Playing to Win - PTW#103 Jason Hartman

00:00:00.000 one of the biggest issues plaguing modern men is that the vast majority of them lack a tribe of

00:00:08.880 other virtuous trustworthy masculine men who gather for the sole purpose of improving

00:00:13.880 themselves and their lives on a daily basis most men simply float through space working

00:00:21.360 a dead-end job only to go home to a nagging wife or girlfriend that doesn't respect them

00:00:25.860 their friend circles are nothing but fat low testosterone losers who are more concerned

00:00:31.980 with what sports teams are playing this weekend what bar they're going to watch the game at

00:00:36.100 if these men are lucky enough to unplug from the comforting lies that modern society sells them

00:00:42.720 and decide they want more out of life they look around and realize they need to get into a better

00:00:46.800 room that's where a private community of men chasing excellence comes in

00:00:55.860 men in our community have all committed to being the best versions of themselves that

00:00:59.760 they can possibly be they willingly run toward challenges knowing that pushing themselves

00:01:05.220 out of their comfort zones is the key to unlocking their true potential as men

00:01:09.540 if you're ready to take control of your life back and curate a network of successful

00:01:15.480 and knowledgeable men now is the time to seize the opportunity

00:01:19.320 all right welcome back guys we're doing a plane to win podcast this is 103rd installment i'm joined

00:01:37.680 today by my friend jason hartman who i guess you're formerly the world's richest homeless guy because now

00:01:43.920 you bought a house no i'm still the richest homeless man in the world you're still homeless okay good

00:01:48.720 yeah yeah we'll get into those details uh a little bit of a different boating sort of excursion there

00:01:54.200 with the intro than the kind of stuff we've done before huh yeah oh yeah definitely but that looks

00:01:58.400 awesome man i love it i love it and folks you should always notice rich is the only guy with his shirt

00:02:03.920 off and it looked pretty cold there yeah well that's you know we do cold plunges there's these

00:02:08.660 portable saunas that our guides bring in that we set up and they're wood fired so we do uh hot cold

00:02:13.100 immersions in the uh lake so there's always that going on nice but thanks for joining me today man

00:02:17.180 your um long time friend met you at i guess i met you in person in real life at gammon's event

00:02:23.240 yeah the first time but i did your podcast a few years ago and you know we've chatted on and off

00:02:27.820 and we've done a couple of we've done a super yacht trip and a catamaran trip in the british virgin

00:02:32.260 islands um so welcome jason um what should we chop up today man because you're a man of many talents and

00:02:40.520 we only have like an hour hour and 15 minutes tops yeah yeah you know um wherever you want to go

00:02:45.980 that it's going to be the most value to your community i mean my background is in mostly real

00:02:50.420 estate investing all my life uh did really well with that but i like to travel been to 99 countries

00:02:56.740 some of them you know many times over and uh i uh i gotta say you helped me a lot through some

00:03:03.780 different relationship issues and things like that that i've had over the years and uh

00:03:07.460 it's just been great uh following your work rich thanks man um yeah let's talk about the richest

00:03:13.500 homeless man in the world claim because you because you made most of your wealth through

00:03:17.800 real estate in the states um i have your bio on the one percent forum if you guys are looking at

00:03:23.280 the ticker ticker on the bottom uh jason will be one of the speakers at the forum october 17th and

00:03:29.440 19th and if you're interested in coming this is going to be the first and few times that you'll

00:03:33.860 see an offering uh with a link to buy a ticket there's there's only a handful left you can go to

00:03:38.840 entrepreneurs and cars.com forward slash the dash one dash forum dash 2025 to learn more and grab a

00:03:44.860 ticket if you're interested but your but your bio talks a lot about owning a ton of real estate

00:03:49.520 throughout the united states different cities is it all in the u.s like have you concentrated

00:03:53.240 building your wealth in the united states yeah you know as far as real estate markets go around the

00:03:58.800 world and believe me i've i've looked and in the 99 countries i've been to i've been to you know some of

00:04:04.340 many times over and i've i've met with brokers i've met with investors developers in these different

00:04:09.740 markets and the u.s is a very special real estate market because uh real estate financing is basically

00:04:17.300 subsidized by the government here ever since uh you know the great depression world war ii uh you know

00:04:23.080 the government created all these uh you know pseudo governmental entities or agencies that help fund real

00:04:30.260 estate deals so you know if you're if you're rightfully pissed about welfare and uh wasting

00:04:36.660 government money uh i say as investors you know get your own welfare program just be an investor and

00:04:41.800 that's essentially a government program for investors um how do you choose where to buy real like what are

00:04:50.940 the starting points for people that are interested in creating life-changing wealth uh via real estate

00:04:58.280 and what kind of timelines because people always want like instant gratification right like pop a

00:05:02.480 bill lose the weight rub the cream under your eyes look 20 years younger right like how does that work

00:05:07.120 in the states yeah you know it uh it's uh i mean look there are many ways to make money in real

00:05:13.400 estate uh it's a huge industry right so you know people can do wholesaling they can do flipping fix and

00:05:19.060 flipping they can do all kinds of things but um what what i do at my company's empowered investor

00:05:25.240 we teach people how to buy and hold real estate so it's it's kind of boring but it works it's really

00:05:30.980 reliable rich and um you know it uh in in three to five years you'll you'll be probably pretty

00:05:38.640 impressed with what you can do uh you know there's that old quote you've probably said it before or

00:05:43.300 heard it uh you know most people overestimate what they can do in a year and they underestimate what

00:05:47.660 they can do in five years and just like becoming a good man uh you know it it takes time

00:05:53.840 right you you've got to sort of earn your stripes along the way and uh and that's uh true with real

00:05:59.180 estate investing too and how do you evaluate that investment like what do you look at as far as

00:06:05.200 demographics the renter the location like what are the key variables that are really important you

00:06:09.960 don't have to get get through like a huge list of everything but maybe like the top three to five

00:06:13.980 sort of thing yeah so first of all when looking at markets uh you know it's a it's a in the u.s

00:06:19.980 it's a huge country outside of the u.s it's a it's a huge world and um but you can always divide it

00:06:25.760 into three basic types of markets linear markets hybrid markets and cyclical markets okay and linear

00:06:34.440 markets it kind of visualize looking at a chart right of appreciation over time and when you do

00:06:41.480 that a linear market will look pretty boring it'll just kind of chug along it'll go up at a slow pace

00:06:47.080 it'll have small ups and downs over the years over time but they won't be significant uh whereas the

00:06:52.740 opposite of that is a cyclical market and i'll tell you where these markets are in a moment

00:06:56.880 but cyclical market that graph or that chart looks like a roller coaster man it's like up and down and

00:07:02.840 up and down and uh so you know it's fantastic during the upswings because you know you can hit home

00:07:09.420 runs but uh during the downtime you give it all back right in a linear market it's a lot of base hits

00:07:16.780 and so you just do well consistently in a linear market a hybrid market as the name would imply is

00:07:23.460 in between the two so let's talk about some examples uh the west coast of the united states

00:07:28.360 cyclical market glorious highs ugly lows ups and downs okay the expensive northeastern markets uh you

00:07:35.800 know washington dc new york uh connecticut markets uh boston those type of markets those are cyclical ups

00:07:42.000 and downs uh where i lived most recently south florida so if you look at like miami cyclical

00:07:47.840 market almost everything else as you know the wonderful hillary clinton just kidding uh called

00:07:54.760 them the flyover states right almost everything else around the country is a linear market with a few

00:08:01.380 exceptions that would be hybrid markets and almost everything in the world around the world is a

00:08:07.320 linear market the most markets are linear okay they're just kind of they just kind of chug along

00:08:11.880 and appreciate slowly and nicely and consistently um around the world let's go back to cyclical for a

00:08:17.600 second think of paris london hong kong dubai cyclical markets right uh very speculative in nature

00:08:25.560 and um and so the linear is where i play and where i recommend people play if they're patient and they just

00:08:32.960 want to create wealth over time and you know the time is going to pass anyway you might as well do

00:08:37.540 something that's conservative and reliable and uh and then the hybrid markets uh there's not too many

00:08:44.800 of them but in the u.s a couple of examples would be austin texas um denver colorado uh you know markets

00:08:51.940 like that a nashville tennessee would be considered hybrid uh markets between the two and which ones do you

00:08:58.760 prefer are you more of like a linear okay yeah linear linear yeah and i mean i mean look if your

00:09:05.580 timing is right okay the cyclicals where are you going to make the most money right but you know it's

00:09:12.140 very hard to time the real estate market believe me i've tried i've interviewed thousands of experts

00:09:17.460 over the years on my show and man you know it's largely luck it's it's kind of like trying to time

00:09:24.280 the bitcoin cycle right it's right it's speculative right is is a linear pattern the one that most of

00:09:30.520 the big investors are following like you kenny mcelroy uh robert kiyosaki like stuff like that

00:09:35.900 um well that's a good question i i would say ken follows linear and hybrid uh and i do linear hybrid

00:09:44.560 uh but um ken doesn't do anything that i'm aware of in cyclical markets because they're just too

00:09:51.420 difficult now interestingly uh you know on the political side and the legal side um linear markets

00:09:58.800 tend to be more conservative uh they tend to be you know the trump voters right if you look at the map of

00:10:05.020 the country right uh you know mostly mostly the only people that voted uh against trump were in the

00:10:11.360 cyclical markets right it's it's kind of funny how that works and the other thing we look for rich is we

00:10:17.160 want to invest in landlord friendly markets and so you know if you're in the socialist republic of

00:10:23.100 california for example it's a very landlord unfriendly if you have a bad tenant good luck

00:10:28.980 getting rid of them because if they know how to play the game they can just screw you over for a very

00:10:33.360 long time whereas in the linear markets you know they're they're conservative markets they expect

00:10:38.000 people to follow the rules right you don't pay your rent get out right that's the way that is that

00:10:42.840 state or is that city um it's both yeah it's both i mean you know there can be you know for example you

00:10:50.880 look at texas right texas texas would be a conservative state but you look at austin and

00:10:55.780 that's a liberal city but mostly you know it they're they're similar okay um at what point

00:11:04.040 like there's that notion of um you know from good to great like that like that heavy heavy flywheel that

00:11:09.900 it takes a lot of effort and energy to sort of get get turning at what point for most real estate

00:11:14.360 investing in the states um does it start to become a little bit easier where uh you know the dividends

00:11:21.120 are paid you figure out stuff you can kind of share um things like expenses you know doors uh you know

00:11:29.300 with h-back units sort of like like stuff starts to make a little bit more sense like at what point

00:11:33.600 does that work for most real estate investors because i know a lot of guys that have that have

00:11:37.140 dabbled in it maybe done done a little bit here and there they have a couple of doors a couple of

00:11:40.760 properties but they never really scale it up big like you know some guys like you have right yeah

00:11:47.080 so uh that's a that's a great metaphor you know jim collins in the book good great he talked about

00:11:52.300 the flywheel he explained that really well and um it's the hardest part is to get going you know when i

00:11:58.120 was uh taking training to get my pilot's license right the only time the plane is really on full power

00:12:04.220 is on takeoff okay you know the rest of the time you're you're throttling it back so that's the

00:12:10.180 hardest part and it's that first couple of years and then the flywheel starts to finally move you know

00:12:16.880 and um we did a uh we every month uh we do a master class that's just free open to the public

00:12:23.500 and uh the month before last i did one on what i called the perpetual motion machine you know about

00:12:31.040 100 150 years ago everybody's trying to invent the perpetual motion machine it's not possible

00:12:35.440 energy because yeah defy it defies the laws of physics right but um with real estate investing

00:12:40.900 it really is possible because you get to a point where you you have some properties and then those

00:12:47.640 properties have appreciated the tenants have paid down the mortgage balance and you can refinance them

00:12:53.600 and have them buy you more properties and that's the perpetual motion machine right to where you can

00:13:00.420 you can get the portfolio self-funding itself so that you really don't have to put any more money into

00:13:07.520 it your properties buy more properties for you and uh we have a whole spreadsheet on this and you know

00:13:13.320 it takes an hour and a half to really go through it but that's the idea you said that's free you're

00:13:17.980 doing that on your channel on the empowered investor yeah so um it's it's not on youtube it's it's just

00:13:24.100 a class that people register for it's a zoom meeting and so people can ask questions participate

00:13:28.300 and they just go to jasonhartman.com slash wednesday and register for that every month and

00:13:33.440 then our pro members we have a community like you do uh they get all those replays for free but we

00:13:38.240 don't replay it except for the pro members got it yeah um

00:13:42.620 because we want people to be there yeah yeah we were listening to you um on the super yacht in

00:13:53.700 croatia because we did some mastermind stuff and you were talking about how leveraging um

00:13:59.260 uh i think inflation debt and inflation was um and and often unspoken about or not not detailed

00:14:09.360 wealth creator can you can you get into that part of that talk maybe on this podcast and sort of

00:14:15.140 explain to viewers how to how to leverage wealth through debt and borrowing yeah it's a great question

00:14:21.620 rich and um yeah about about 20 years ago i um i started teaching a strategy that i call and it's a

00:14:29.740 mouthful i call it inflation induced debt destruction i know it's a mouthful um and basically what that is

00:14:37.680 is think about it in in the u.s because we have such a favorable mortgage and financing environment

00:14:43.220 here uh as opposed to canada you gotta like renegotiate your deal every five years and most

00:14:49.140 countries are like that right here subsidized by the government so it's pretty cool take advantage of

00:14:54.680 that and you borrow money at today's value right so if i held up a dollar and i said hey rich what's

00:15:01.400 this you'd say it's a dollar but 10 years from now you would also call it a dollar but the

00:15:07.300 value of it would be lower almost for sure because we have just persistent inflation and inflation

00:15:13.800 destroys the value of our stocks our bonds our equity in real estate uh our other investments

00:15:22.000 our savings right it destroys the value because as we save money or invest money that money becomes

00:15:27.980 worth less as inflation debases the value of it but it also destroys the value of debt my favorite

00:15:36.960 four-letter word right so so if you borrow a million dollars at today's value and if there's

00:15:42.400 10 inflation now during biden that take only one year for 10 inflation but now you know it might take

00:15:49.400 two or three years to have 10 inflation either way 10 of inflation occurred over some period of time

00:15:55.800 now that one million dollar loan that you borrowed if you owe one million you get your mortgage

00:16:01.900 statement it says you owe one million right but the value is only 900 000 because inflation has

00:16:08.980 essentially paid off a hundred thousand dollars that's like free money right and so most people

00:16:16.240 they get completely screwed by inflation right you know the the poor the the non-investor class

00:16:22.600 their money keeps getting debased and devalued through inflation but people that get long-term

00:16:29.340 mortgages on their income properties their inflation benefits them not only because the property goes

00:16:36.040 up in value but the balance of the mortgage goes down the debt is debased by inflation and that's

00:16:42.460 inflation-induced debt destruction you've you've got a lot of eggs in one basket with real estate

00:16:48.040 all in the u.s there's there's a lot of people who are saying still the best country in the world it's

00:16:54.320 going to be great for decades to come there's a lot of people who are saying by x year 2030 2040

00:17:00.060 2050 whatever the empire will have fallen and you're all going to be fucked basically let's what's

00:17:07.540 your position on the direction of the united states in general economically oh that's that's a loaded

00:17:14.080 question i mean look for for 60 years of pathetic liberalism we have been going in the wrong direction

00:17:20.740 i mean we're almost 60 years you know since lbj and his great society or you can even take it back

00:17:25.900 to fdr right um we've been going toward a we've been going in a very bad direction we've accumulated

00:17:32.740 massive debt we run massive deficits every year uh and it's terrible trump thankfully is finally

00:17:40.380 trying to turn this around but it will not be easy and it will not be without pain uh so you know

00:17:47.280 we'll see if he can do it but um you know it's looking pretty good i think overall um you know

00:17:53.620 a lot of people have likened the united states to rome in the fall of rome and you know when you study

00:18:00.420 the fall of rome you realize rome fell from within it wasn't really an outside enemy that destroyed rome

00:18:07.000 i mean i guess you could argue that sort of because rome was fighting a lot of wars that it shouldn't

00:18:12.540 have been involved in and you could argue the u.s does that way too much too right um but you know

00:18:18.140 mostly it fell from within yeah right a lot of debauchery a lot of uh you know sloth and uh really

00:18:25.360 just bad habits and that's what happens right we've all heard that cycle of you know it takes strong men

00:18:31.720 to you know make a great society in a great world and then weak men destroy it right but strong men become

00:18:38.260 weak when they have luxury and and they become apathetic it's just human nature we all do this

00:18:44.440 right when things are going well we relax a little bit and you know we don't go to the gym as much as

00:18:48.900 we should or whatever it is and uh and so so it's always a cycle like that and the trick is um you know

00:18:56.180 one of my i mean we're going on a little bit of a tangent here but one of my favorite quotes

00:18:59.920 is from napoleon and napoleon said the most dangerous moment comes with victory because when

00:19:08.120 we're victorious we become complacent and we let down our guard and so that's a lesson to everybody

00:19:14.900 you know the most dangerous moment comes with victory so don't be complacent after you win

00:19:21.780 right you know uh just keep doing it keep stay disciplined and keep doing are you starting to

00:19:28.060 diversify your holdings outside of the states just sort of hedge it a little bit are you still

00:19:32.340 definitely holding all in the states for the first yeah well last year i did i did open a foreign

00:19:37.440 bank account um you know mostly for like estate planning and asset protection um but also it

00:19:42.960 gives some diversification because there are some things i can invest in that you know really aren't

00:19:48.000 very investable within the u.s uh but i do not own any foreign real estate um i've certainly looked at

00:19:54.240 it i certainly considered it um you know in about in about a third of those 99 countries i've traveled to

00:20:00.340 i've i've really looked at it deeply and i just i just haven't found anything that works as well as

00:20:06.920 the u.s you know besides the financing that i mentioned there are many other reasons the u.s

00:20:12.240 market is pretty special for real estate and look just just for the record my company empowered

00:20:17.040 investor we could easily be selling international real estate like we get pitched on this almost

00:20:21.940 weekly you know someone will say hey i got properties in costa rica or australia or dubai and i want

00:20:27.300 you to sell them and we've certainly considered it right no question uh but it just seems that the

00:20:33.140 the deals aren't as good the transparency isn't as good you know things in the u.s that and i know

00:20:39.000 you're canadian obviously and you know you probably have pretty similar in canada because pretty close

00:20:43.360 to the u.s obviously but um in the u.s we kind of take it for granted that we have access to all this

00:20:48.240 data okay like this data makes things really easy and safer when investing for example you can just go

00:20:56.280 to zillow or redfin or any of these sites and you can you can figure out the value of a property

00:21:01.320 and when the properties are sold they're recorded this process is very transparent in the u.s in other

00:21:07.920 countries it's very opaque and you don't know what anything's worth you know they don't have uh an

00:21:14.080 mls system like we have in a lot of these other countries and so you know they have what they call

00:21:19.080 off-plan properties okay and you know you just don't know what the value of anything is it's very

00:21:25.220 hard to figure it out now uh there is a a cost to that though that seems good right it's mostly a

00:21:33.800 benefit but um if you compare real estate to the stock market for example the stock market is a

00:21:40.800 very perfect market so for example and i don't like the stock market i think it's a i think wall

00:21:46.220 street's you know the modern version of organized crime okay but the market is perfect if you own apple

00:21:52.700 stock and you know i don't know what it's trading for right now but say it's 100 bucks okay and you

00:21:57.520 want to sell your apple stock and you call your broker and say hey i want to sell it uh but i really

00:22:01.520 want 110 okay and the broker is going to say no it's trading for 100 that's it period end of discussion

00:22:07.340 there's nothing you can do with real estate though it's a less perfect market and you can fix it up

00:22:13.440 you can market it better you can do things that'll make it more appealing and make it sell for a higher

00:22:18.420 value uh so the more perfect the market for an asset the less room for creativity um but you do

00:22:28.060 want some amount of data and transparency in that market right here's an interesting one for you so

00:22:35.380 if if real estate is such a great investment and the most amazing you know place to park money why are

00:22:42.380 you homeless why do you live in hotels that's a great question yeah so um you know it ties into

00:22:49.660 your work and when i you know i i was following you a lot a couple of years ago i had a bad breakup

00:22:55.000 and i just kind of started reevaluating my life i read a book called die with zero and i thought like

00:23:00.560 what am i doing you know this chick uh that you know lied to me uh she just shacked up with the next

00:23:07.100 guy moved to another state she had like no obligations right she could just do anything she wanted

00:23:10.840 right um you know she was also homeless okay living with her parents and um and i thought

00:23:16.920 how easy is that you know who who has the most freedom here her or me i've got like way more

00:23:23.380 money she had like no money okay and um you know but she's just much freer than i am so i decided

00:23:28.720 you know i sold my house in palm beach florida and i just decided to travel for a year and uh so you

00:23:35.440 know that's that's what i'm doing and i am actually house hunting now i'm in scottsdale

00:23:39.280 and i'm gonna buy a house here i've been looking heavily um interestingly it takes a long time to

00:23:46.520 look at properties here though because there is so much inventory uh in this market that's not true

00:23:52.560 of every market but it's definitely been going up is it a buyer's market down there i would say this

00:23:57.580 is a buyer's market yeah i mean it's not like a radical buyer's market but it's it's ways you know

00:24:03.180 it's in favor of the buyer you know you see a lot of these um youtube experts quote unquote um

00:24:10.440 saying you know get a whole bunch of passports buy some real estate in this country in that country

00:24:15.240 and this country sort of thing and the u.s is getting flushed down the toilet it's the worst

00:24:19.880 place in the world to be and i gotta i mean by all measurement a pretty smart guy in this podcast

00:24:26.180 right now that's that's all eggs in one basket in the states traveling the world you've seen the world

00:24:31.280 you've probably been to a lot of these places that these guys are all like get 15 passports and buy

00:24:35.940 real estate in this obscure country and some bullshit part of the world sort of thing um

00:24:40.120 what's your take on all of that i mean you've probably seen all these all these videos and

00:24:44.360 social media gurus and all that sort of stuff like what do you think yeah i've definitely studied that

00:24:48.740 intensely i've read books on it i've interviewed many people about international investments and all

00:24:53.780 this kind of stuff you know it's kind of like a uh a spoiled kid who doesn't appreciate their

00:24:59.120 parents and what they provide for them or a spoiled woman who doesn't appreciate her husband and what

00:25:03.340 he's providing for her you know either one and um you know it's uh i i mean most of the world the

00:25:10.600 economies just suck they're fucking tragically bad okay i mean one of my favorite places to go is europe

00:25:17.300 okay but europe is a disaster of epic proportions okay like the youth unemployment rate in spain or

00:25:26.260 italy or greece you know is like uh this is for um male i think males i mean it depends what survey

00:25:32.920 you look at but like males under 35 years old okay they're they're like 52 or 54 percent of them are

00:25:39.720 unemployed these places just have like no economy in a lot of them if you look at i mean one thing i i'd

00:25:46.140 recommend for anybody who's thinking like this is just look up uh the gdp per capita of any country

00:25:52.700 and the uh income per capita of any country that you like right and you'll find that those two won't

00:26:00.140 be far apart they're pretty close gdp per capita and income and um you'll see that you know their

00:26:06.300 their per capita gdp is like you know twelve thousand dollars okay and yeah you go there and you think i can

00:26:13.800 buy this awesome place um but it's not really that great the construction quality is bad the supply

00:26:20.320 chains are terrible um you know the workers tend to be lazy um or there's just a million laws and

00:26:27.560 uh things that get in your way i mean i remember i you know i go to europe pretty much every summer i

00:26:33.080 was born in europe just so you know uh and i go pretty much every summer okay and um about five years

00:26:39.880 ago i was on a trip and i posted this on facebook and i just realized and um i i posted uh in america

00:26:49.340 the customer is always right in europe the procedure is always right and it's like it's like i just cannot

00:26:56.520 believe all of these countries with this incredible history and art and culture and science i mean these

00:27:03.640 are the you know all these european countries made the world okay we really got to appreciate them

00:27:08.480 but they have become so bogged down in their own fucking bureaucracy and their own like linear

00:27:15.520 thinking it's just amazing you know i'll be at a hotel and i'll ask for something and it's like well

00:27:20.540 that's not the procedure well i'm a customer just take care of it like just think out of the box

00:27:26.360 it's it's mind-boggling to me like the the one of the lowest business startup rates in the modern or

00:27:33.300 the advanced world is germany and in germany you try to start a business okay and it's you are hit

00:27:39.560 with roadblock after roadblock after roadblock after road you know just everything is getting in your way

00:27:45.360 you know it's it's nice to visit these places and you know the buildings look great and the food is

00:27:50.660 great but man you try to do anything and you realize all of these countries are like stuck in the

00:27:56.160 past they just they just you know it's just a hugely different thing so you've traveled a ton

00:28:04.760 in the last couple years um i mean whatever i talked to on whatsapp you're like i'm in this random

00:28:09.380 place and we'll be yeah i'm in i'm in japan or yeah um thailand or whatever yeah what what parts of

00:28:15.020 the world do you like the best and why yeah you know so much yeah for for culture i like europe the

00:28:24.760 best uh for uh you know if you want to see amazing amounts of wealth and really amazing architecture

00:28:32.540 and buildings that's modern go to the middle east i was in cutter recently and i couldn't believe it

00:28:38.300 i mean it's just like dripping with money of course dubai and abu dhabi are too when i've been there a few

00:28:43.580 times but um you know and and then you know asia i mean it's just all different and if you're single

00:28:50.960 and you're a passport bro you know that's part of your audience i'm sure uh you know i i would say

00:28:57.420 just go to these places and check them out and have a good time and um you'll definitely find that with

00:29:04.020 um with women uh they are just much more friendly and much more traditional in the sense that they

00:29:12.880 actually value men whereas in western europe and the u.s and canada it's like it's just a disaster

00:29:20.780 i mean so the social life is just a mess in these places because uh all of the rules if you will the

00:29:27.780 customs they're not really rules but you know the sort of implied rules that have worked for

00:29:32.520 thousands of years to organize society um you know starting really in the 60s with second wave

00:29:38.300 feminism uh just going through these countries um you know it's just changed everything and um the

00:29:45.440 culture is just not great you know so business like business in the u.s is fantastic it's a great

00:29:54.420 place to do business americans understand business and they're great at it um but the culture and the

00:30:01.520 social life um if you're single um you know it's worth considering other places so make your money

00:30:08.600 in the states enjoy life and women elsewhere basically yeah and and then you're geo arbitraging

00:30:14.460 your money okay so you know your your money spends a lot better in some of these other places

00:30:19.800 and that that is true you know a lot of passport bros go to thailand they're like they're amazed

00:30:25.580 you know everything's like one third the cost right uh but to at some point like if you're if

00:30:32.820 you're wealth if you're really wealthy in the u.s you know there are services and things that just

00:30:37.360 aren't offered in these other countries because the economy can't support it so you know if you like

00:30:42.160 like real luxury you won't be able to access it in some places in the middle east and the richer

00:30:48.200 asian countries you certainly can but um a lot of these passport bro destinations

00:30:53.080 yeah where where have you found the women to be the best because that's the thing that pops up a

00:30:59.060 lot is a whole passport bro movement and i mean like one of the like one of the warnings i always

00:31:04.520 issue to guys is like yeah just because you can move to thailand and and shit's cheaper and maybe

00:31:09.280 you're going to stand out from the crowd because the average height is shorter than you know like

00:31:14.540 an american height sort of thing but like the grass is always greener where you water and fertilize it

00:31:19.340 so hopping the fence doesn't solve a lot like if you're a dork in the states you're going to be a

00:31:22.800 dork in thailand too yeah i mean like as far as the environment and and women and like the lack of

00:31:29.160 uh toxic feminism sort of stuff where we found the women to be the most attractive the most agreeable

00:31:35.080 the most feminine you know stuff like that yeah well before i answer that i'll just say that uh one of

00:31:41.100 the things i've always uh said is that feminism was a conspiracy to lower the birth rate of educated

00:31:48.500 white people okay now why do i say that right it sounds crazy um well the reason is that in the

00:31:55.520 60s colleges were full of educated white people okay and you notice that you know only the white

00:32:02.480 people were like dumb enough to fall for it okay you know the hispanic community didn't fall for it

00:32:07.900 the black community didn't fall for it right only the dumb educated whites fell for it it's just a

00:32:13.440 crazy thing how that worked and um and so you know that just just pervaded the colleges in the 60s and

00:32:21.480 then we got to third wave and it got even worse you know um and and listen i don't don't get me wrong

00:32:27.880 i think women should have rights and be able to vote and drive and do all these things of course

00:32:33.000 um you know but uh it's just this like man hating type of environment that it's come to is just

00:32:39.940 radical it's crazy what both sides need to realize is that we both need each other and um you know

00:32:46.500 the they have to come to peace and uh you know make make good with each other because you know we both

00:32:52.380 offer different things uh there's a great book called men on strike that i read years ago and i had

00:32:57.540 my girlfriend at the time read the book and she said i agree it's written by a woman um and uh you know

00:33:02.380 it talked all about this this issue and it was written i don't know 15 or more years ago yeah no

00:33:09.780 i think it's early 2000s but i don't know i could be wrong but but think of it she said all that then

00:33:15.020 and it got so much worse since then i mean it's just so crazy now but i think the pendulum you know

00:33:22.320 the pendulum always swings with society and it's it's kind of swinging back toward the middle uh so

00:33:28.140 hopefully it'll get there to a reasonable place and everybody will be happy again but i say all this

00:33:33.600 because you know you look at any statistic the birth rate is plummeting the marriage rate is plummeting

00:33:38.300 depression is skyrocketing i mean this is like a real thing that is dangerous and deadly okay

00:33:45.360 suicides are skyrocketing i mean this is not you know just uh idle chatter this is like a real societal

00:33:54.120 ill in the western countries so western europe u.s it's the same deal in both of those places um

00:34:01.120 where well you know it depends what you like and what you're looking for i mean um amazingly you know

00:34:07.160 i was in colombia with george uh several times and um you know women are friendly and they're like

00:34:14.460 mucho gusto jason you know they're just really friendly and happy to meet you you know and it's

00:34:19.040 just a different kind of thing what's interesting is that country for example with all of its um

00:34:25.020 history has been tough right there obviously with the drug trade and the corruption and so forth and

00:34:30.820 you know everything south of the u.s border is pretty there's a corruption problem in almost

00:34:36.860 all of those countries pretty much i mean we have it here too but it's a different kind of corruption

00:34:41.720 it's like a white color corruption it's a little different and um but but you know they're oddly

00:34:49.000 with people only making like twelve thousand dollars a year there's a certain kind of like optimism

00:34:54.180 because things are on the upswing okay like things are moving forward for them it's getting better

00:35:00.700 okay whereas until recently in the u.s it was just getting worse and worse and and uh you know for

00:35:07.800 decades american workers in real dollars did not get any raises right they were just working you had

00:35:13.980 to be an entrepreneur if you wanted to get ahead or an investor if you were just working a job in the

00:35:18.680 u.s for for decades i mean 1977 until the first trump administration literally there was no raise

00:35:26.660 adjusted for inflation for the average american worker okay uh so so it's bad but to answer your

00:35:33.500 question uh you know a lot of guys like the philippines um which i've only been there once i haven't

00:35:39.440 spent much time there at all um but southeast asia you know you're gonna find just a whole different

00:35:46.200 thing but everybody's attracted to different people and different culture and things like that but

00:35:50.900 eastern europe um you know the problem with eastern europe even though i think uh the um the attractiveness

00:35:58.460 level is very high there is that the the attitude and the um you know a lot of those people have lived a

00:36:07.180 pretty hard life or their parents have at least and uh you know they're um they're a little somber about

00:36:14.260 it you know yeah they're pretty harsh in eastern europe they're it's like there's um there's an

00:36:22.220 edge to eastern european women um they're probably some of the most attractive but they're also like

00:36:27.960 if you don't understand women and game and how to manage chicks like they're they're some of the

00:36:32.580 hardest women for guys to manage and will easily just like they'll they'll fucking destroy you if you

00:36:38.120 don't know yeah yeah they're they're they are strong i agree um they can also be quite quite uh

00:36:47.540 like like fiercely loyal i remember i think it was um a divorce lawyer that's all over the internet i

00:36:54.460 can't remember his name right now um this guy with the sleeve tats on his forearms and he was saying

00:36:59.280 you know that they're also fiercely loyal too um so i mean as long as you're the hypergamous best option

00:37:06.000 and then you know how to deal with their bullshit which will inevitably come up then things will be

00:37:11.820 fine well and and you know rich it totally depends on the country too of course i mean we're talking

00:37:17.400 about a region but you know poland uh is one of my favorite um and um you know they're they're catholic

00:37:24.300 right so it's um they are loyal and traditional and it's pretty good yeah um

00:37:31.920 but remember their parents grew up under communism and it was harsh okay like they they were they

00:37:42.020 were probably i mean look if you meet a woman who's 30 there right she was born after right

00:37:48.020 after the berlin wall fell okay right after lech walenza did his thing in solidarity if it's poland

00:37:53.480 um so she doesn't know it but she she got it from her elders right she understands what it was like

00:38:01.620 from them you know we were we were talking before we went live about you know the the you know the

00:38:07.480 red flags from my book um are there are there red flags that you've thought about or maybe identified

00:38:13.480 with real estate investing oh definitely you're like oh that's a comparison yeah i'm just wondering

00:38:21.700 because because i think it's an easy like i think one of the mistakes that that a lot of guys make

00:38:26.560 and even creators make is like do do a b c d sort of thing you know it's like and i think for a lot

00:38:32.260 of people i mean maybe maybe this is just me but it's like tell me what not to do so i can stay away

00:38:38.360 from the landmines and you know you're kind of going to gravitate to the better stuff anyway right

00:38:43.600 it's like you know this is dangerous that's a sharp object this will kind of fuck you so right

00:38:49.060 you know what i mean like have you identified like a list of red flags when it comes to like

00:38:54.440 your investing portfolio or in life in general oh yeah definitely i mean you know i think the one

00:38:59.160 um when i started out 21 years ago doing just helping investors only i had a traditional real

00:39:05.900 estate company before that i sold it to coldwell banker uh but when i got into the investment only

00:39:10.760 business not like you know someone wants to buy a house we don't we can't help them to live in

00:39:15.760 right but just for investors uh 21 years ago um i created what i call the 10 commandments of

00:39:21.660 successful investing and that's kind of been my core content and the thing that i would say is

00:39:26.560 resonated with people the most is commandment number three okay and that is thou shalt maintain

00:39:33.380 control so the opposite of this is your red flag okay right and we say you should be a direct investor

00:39:40.600 uh buy things that you actually own and control rather than relinquishing control to some financial

00:39:48.200 advisor on wall street uh a person who's syndicating deals a fund manager right um thou shalt maintain

00:39:56.720 control if you don't you leave yourself susceptible to three major problems number one you might be

00:40:02.980 investing with a crook okay we've all heard of bernie madoff and enron and global crossing and you know

00:40:09.180 all of these scams on wall street they're like a daily thing okay uh number two you might be

00:40:13.740 investing with an idiot so either through their their crookery or their stupidity you're gonna lose

00:40:19.020 money right and number three assuming they're honest and competent they take a huge management fee off

00:40:24.600 the top for managing the deal and there's there's no shortage of hearing about how these ceos and

00:40:31.920 boards of directors issue themselves giant bonuses and giant compensation packages even when

00:40:38.120 their shareholders are losing money um one great example is larry ellison founder and ceo of oracle

00:40:44.900 right we've all heard of larry um from 2000 to 2002 larry paid himself out of oracle almost a billion

00:40:53.240 dollars a billion okay in two years almost okay and at that same time his shareholders lost 61 of their

00:41:03.820 investment so it's just completely unaligned right whenever you do a deal you want to be doing a deal

00:41:10.840 with someone who has an alignment of interest okay uh and very rarely is there an alignment of interest

00:41:18.240 and by the way this all changed on you know with stocks and wall street with milton friedman uh the

00:41:25.440 economist from years ago and i love milton friedman i think he's he's brilliant okay but the one thing he said

00:41:32.380 as he said that the the enterprise its first goal is to bring value to the shareholders and wall street

00:41:42.440 went nuts with that idea it just pervaded wall street and it pervaded the executive suites and the c-suites

00:41:49.500 and all of these uh you know companies just focused on shareholder value and at the same time they were

00:41:55.560 screwing over their employees and you know they were uh they were just taking all of these profits

00:42:01.580 for themselves so their their goal was to get the stock value up and so the investors were like

00:42:06.600 temporarily happy but their options packages made them so much richer than their investors and so it's

00:42:13.880 just like an out of alignment thing i'm not sure i've explained that perfectly no that makes sense

00:42:18.420 um what's your take on like um alternative investments kind of like crypto bitcoin you know

00:42:24.940 more more specifically yeah you know i mean bitcoin everybody's got pretty much the same funny story

00:42:32.660 i first learned about it when i was doing a speaking engagement uh years ago uh in central america i've

00:42:39.760 done a couple international engagements right and uh i remember one of the other speakers was telling me

00:42:45.380 as we were standing on the beach barefoot uh you know for a cocktail party he was saying you know

00:42:50.260 he was telling me about bitcoin and it was 74 dollars and and we're at what 106 000 now or something like

00:42:58.680 that um and look my opinion on bitcoin uh and crypto we have to first of all separate those two because

00:43:07.440 cryptocurrency is not bitcoin bitcoin is a different animal it's in a class by itself it is

00:43:14.500 way better than any other crypto okay um is that you know it it could go to nothing right the regulators

00:43:25.580 could attack it um you know maybe quantum computing could hack it i don't know but i want nothing more

00:43:33.900 than to see it massively succeed okay and i own a bunch of it right but i wouldn't put a lot of my money

00:43:40.320 there right maybe you know 10 percent of your net worth maximum okay uh because you know it really

00:43:46.460 air it's just code it's it's it has no intrinsic value uh it doesn't produce income right um you know

00:43:55.720 to me if you want to qualify something as an investment it must produce income if it doesn't

00:44:02.040 produce income it's totally a speculation if the whole strategy is buy low sell high that's speculative

00:44:09.380 okay that's gambling and you know you can gamble a little bit i think it's okay um if you've got

00:44:15.600 the money but just be careful okay and and i want to be wrong about this i want to see bitcoin be the

00:44:22.060 thing i love it you know it's it's like the freedom currency so i hope it succeeds wildly but i'm cautiously

00:44:30.980 optimistic are you um thinking the same when it comes to stuff like gold or do you have a different

00:44:35.960 opinion on gold well gold uh i mean go you know gold is the advantage of gold is it's got the

00:44:42.060 history bitcoin's only got 15 years okay a little more than that um you know so uh gold has got

00:44:48.540 thousands of years and uh the problem with gold though is it doesn't produce income it's the same

00:44:52.740 problem uh and uh so it's it's speculative and the thing that makes um i mean there are really only two

00:45:01.080 super winning things that people can do one is uh have a business right and have a business that does

00:45:08.580 well you can do very well in a business that is successful number two buy income property and on

00:45:16.120 the income property side the reason it beats everything else is because it's a multi-dimensional

00:45:21.980 asset class so you know think of an iceberg right and the old saying that most you know only a little

00:45:28.200 bit of the iceberg is above the water most of it's below the water and with real estate you know we

00:45:34.020 see what's above the water we see appreciation and that's exciting we see positive cash flow and that's

00:45:39.300 great but what's below the water is inflation-induced debt destruction tax benefits leverage multiplying your

00:45:46.200 returns the tenants paying off your mortgage these are the things that you don't really like notice or

00:45:51.040 think about that are making you wealthy and um you know gold bitcoin buy low sell high stocks if they pay

00:46:00.780 a dividend buy low get some dividends in between sell high that's the whole game for either of those assets

00:46:07.260 with income property you've got like six things that are making you wealthy all the time that are just

00:46:12.980 working for you constantly what are um we got about 15 minutes left so let's do this what are the top

00:46:19.720 best choices that you've made in your life and what are the and what are the worst choices that

00:46:24.280 you've made in your life well maybe like three from each category like what's the best you've done

00:46:29.560 and the dumber shit that you've done yeah okay so um best choices uh leaving the socialist republic of

00:46:35.100 california uh about 14 years ago moving out of california and moving out of a high tax high regulated

00:46:42.660 environment is gonna help you get wealthier a lot faster when i when i moved to arizona in 2011

00:46:49.020 when i crossed that state line my state income taxes went down by 69 percent from california okay

00:46:56.240 and um you know it's just a whole better environment socially and everything so leaving california great

00:47:03.280 decision uh that i thought i might regret okay but i didn't i i'm very glad i did that um i used to

00:47:10.040 say beautiful state though yeah it's great place to visit don't don't don't be in their tax nexus

00:47:16.700 that's the problem um i used to say that i was glad i didn't get married before the era of social

00:47:24.980 media and i was saying that from the perspective rich of a guy who thought well social media is

00:47:30.920 increasing my opportunities right and you know like online dating increasing your opportunities but that

00:47:39.040 is i changed my mind that was actually a terrible decision in a way because of the way social media

00:47:46.020 has corrupted women uh and it has just ruined the dynamics of the whole game which you know you're

00:47:53.360 an expert on but i'm glad to talk about it too um and then um you know some of the dumb things were

00:47:59.860 i'd get you know get kind of like sick of a property over the years and just sell it because i was just kind

00:48:04.920 of sick of i had this problem or that problem and then you know it's worth much more now you know

00:48:10.700 so that that was bad decision what sorts of things would make you sick of it like

00:48:14.960 you know issues repair and maintenance issues you know and these things are you know the thing with

00:48:22.740 those with all properties though yeah you know you're gonna have like annoyances okay and um part of

00:48:29.280 that game is that with with the properties being a direct investor you're gonna feel the bumps in the road

00:48:34.920 because you're running the deal right if you buy stock in a company you know tim cook is never

00:48:41.080 going to call you from apple and say hey jason what should i do right you know you got to make a decision

00:48:47.000 you know but the thing is they're charging a giant management fee for doing that um so you got to just

00:48:54.020 sort of manage your emotions that's a big part of being an investor of any kind but definitely a real

00:48:59.080 estate investor um gosh uh well you know when we were in croatia on the uh super yacht uh i was uh on

00:49:10.220 the raft you were on the raft too being pulled by the jet ski and that raft flipped and gave me two

00:49:15.960 really bad shoulder injuries and um if i was in better shape before that the injuries might have

00:49:23.340 been prevented right because for some reason like my arms flailed around and i don't know i injured

00:49:28.800 him not sure what happened it happened so quick um and then i couldn't work out for basically eight

00:49:34.820 months and i'm just getting back into it now and uh you know you got to have a reserve of extra fitness

00:49:41.940 that is kind of like more than you need right kind of like investing you got to have more money than

00:49:48.060 you need right uh because you don't know which way things will go and um i i think that was a big

00:49:54.020 mistake um because i didn't know i never had a real injury i mean i'm i'm you know i've always been a

00:50:00.320 skier and i never got injured i couldn't believe it right and uh this was my first like sort of life

00:50:07.220 changing major injury i dodged the bullet before that yeah i mean you know to that point i i had the

00:50:15.460 opportunity i think to get on the same tube at the time yeah driving the tube and i was like no i'll

00:50:22.340 wait no it's no it's cool you guys go ahead yeah yeah but you were you were on that tube before

00:50:29.180 well i was on with the right passengers like i you know i hopped on with a couple of the gals that i

00:50:35.560 knew that uh you know we're gonna have the drivers slow down oh okay got it yeah yeah yeah that that

00:50:41.760 jet ski i'm pretty sure are really wave runner um i'm pretty sure that thing had like no governor

00:50:47.720 on it no that thing ripped it was like a mclaren it was insane i mean it was not like a jet ski you

00:50:53.860 see in the u.s yeah whether whether governed to like barely get up on a plane right yeah no

00:51:00.680 they're probably governed to go 50 i bet that one goes 60 or 70 what's what's the most fun that you've

00:51:07.260 had i mean like you've done some pretty cool shit i mean you talked about pilot's license uh you know

00:51:11.780 i know you've talked about yachting we were talking about um i think you said you were considering buying

00:51:16.720 a catamaran at one point when we were down in the british virgin island yeah i was gonna buy one of

00:51:20.640 those exact catamarans i'm glad i didn't because you know being on them i didn't think they were that

00:51:24.820 great honestly yeah it was a little little bumpy in the crappy weather too in the water but um like

00:51:32.020 what's the most fun like what would you recommend guys aim to go and do at least once in their life

00:51:37.900 like you know go go make some money create some freedom for yourself like what would you recommend

00:51:42.440 as a must-do activity oh wow um like this is you know for me like the most fun i can have with my

00:51:50.640 clothes on is probably doing supercar rallies like i love ripping cars fast for the mountain passes just

00:51:55.520 yeah at the limits of grip you know hanging out with your boys you know uh eyes out for the cops

00:52:01.560 maybe have to run from them sometimes i don't know yeah yeah well there's a great song about that rich

00:52:06.100 and it's from the band that started in your city rush yeah red red barchetta uh red barchetta

00:52:13.180 you don't know this song no i know the song i just have to listen to the lyrics i i was never a big

00:52:18.560 rush fan like i had to introduce you to the tragically hep right yeah yeah you did but rush is fantastic i love

00:52:23.900 rush anyway um so red barchetta is about a you know the sports car red barchetta you obviously know

00:52:30.320 what that is right and um and he he takes it and drives it through the mountains and he describes

00:52:36.100 the whole scene of him racing the car uh trying to escape uh the um the government that's chasing

00:52:42.220 him basically basically because i'm gonna dig through that after this but but i mean for you like

00:52:46.900 what's your recommendation for guys to go and like you know we always seek like there's always some

00:52:51.720 challenge there's always some level of competition there's always some thing like what have you done

00:52:56.460 where it's like oh yeah this is like a must do like guys have to do this shit well i would certainly say

00:53:01.280 although i've only done it once because i didn't want to make a lot of money buy a lot of real estate

00:53:05.320 like make a lot of money of course you should do that yeah you should definitely make a lot of money

00:53:09.620 that's the thrill uh for sure but um you know i'd say skydiving was definitely i mean skydiving is

00:53:17.520 very fun um but uh you know if like if i got a terminal disease tomorrow i would do it every day

00:53:24.000 really skydive every day oh yeah it's great yeah it's a major thrill yeah see i'm one of those guys

00:53:31.080 that likes control of the adrenaline like i have to be in the driver's seat um but you know i gotta be

00:53:37.420 driving the car i gotta be on the motorcycle i gotta be on the jet ski you know i gotta be flying the

00:53:42.520 plane sort of thing yeah um i don't like i like flying anything yeah i love aviation yeah i'm a

00:53:50.400 huge huge aviation fan i think you said that you grew up in a single mother household and she wasn't

00:53:55.560 particularly like well off right like when you're growing up no not at all not at all we didn't have

00:53:59.640 any money my uh it wasn't it was not that great and um the single mom thing is uh you know kind of

00:54:06.100 like i saw some of the stuff you talk about i saw it from my mom dating when i was a kid right

00:54:10.780 yeah and uh you know things were different back then obviously but not that different i guess yeah

00:54:16.620 how how does money change or improve your life does it make you happier like that level of wealth that

00:54:23.560 you're at you know yeah before you answer that so the reason why i'm asking the question is because

00:54:29.240 one of the things that i get criticized for by the guys that don't like the notion of doing work or

00:54:35.140 think that it's too much work or that it's not worth it is i always tell them look guys aim to be

00:54:39.480 a millionaire by the time you're 30 if you miss that mark at least hit it by the time you're 40

00:54:43.420 there's no reason why you can't hit it yeah absolutely you've done that many times over so

00:54:47.260 like how has that changed your life was it worth it yeah um you know number one you gotta not let

00:54:56.220 money become the master it's just a tool okay and um you know i kind of spent a lot of time in my life

00:55:04.200 and it was a mistake i'd say uh being on the treadmill you know just chasing the dollar and

00:55:09.860 what i didn't realize is that i didn't have to keep chasing i was done okay and like i didn't realize

00:55:17.820 that until uh during the late stage of covid i whipped out a google spreadsheet and i just started like

00:55:25.640 itemizing all my investments i'm not the kind of guy who like keeps like obsessive track of that stuff

00:55:31.820 right i just have deals here and there and and i realized like i'm rich man like why am i still

00:55:37.940 working and then you know i had that breakup and uh i'm thinking like i have less freedom than this

00:55:43.620 gal does and she's never made any of the sacrifices that i made this is not fair right it's not right

00:55:49.240 and so that that was the impetus for my becoming the richest homeless man in the world

00:55:53.320 um but uh yeah you know money is good to a point um it it after a certain point it just is kind of

00:56:03.660 like it doesn't do anything for you it will not make you happy i mean money will not make you happy

00:56:09.320 uh there's uh but it it will make you more happy than poverty okay so yeah it's always better to cry

00:56:17.000 in a lamborghini than to do it on the bus stop seat right i would say again i've never seen guys crying

00:56:22.900 in a lamborghini i have lots of friends with supercars they just don't right yeah they just

00:56:26.400 don't you know the other thing is it just gives you a lot of choices and a lot of options optionality

00:56:31.280 and you just don't you know a big part of like stress in life comes from not having money for most

00:56:37.260 people right and so the money thing is just something you ought to just take care of it

00:56:41.880 like become the millionaire by your 30 like rich says just get it out of the way check it off the

00:56:48.580 list okay it's just one of the mountains in life you have to climb you got to climb the health

00:56:53.780 mountain and fitness mountain right and you got to take care of that and you got to take care of the

00:56:57.960 money right just get it taken care of right but once it's taken care of like yeah you know keep

00:57:04.640 earning money but you don't need to be like obsessive about it once it's done right what's a realistic

00:57:10.960 timeline for the average american in a good city that gets into real estate maybe follows some of

00:57:16.840 your advice and your protocols attends like your zoom sort of webinar is it a is it a five-year

00:57:22.660 timeline to make a million bucks is it 10 years like what would you think that that would be

00:57:26.920 yeah it depends what they're starting with starting with 100 grand yeah everybody starts different so

00:57:32.100 so if you have 100 grand you could buy one maybe two properties nowadays because they've gotten a lot

00:57:36.660 more expensive and um you know in uh in in i mean it depends on the market cycle too right so you

00:57:43.880 know depends what side of the cycle you're on but in in five years you should be able to accumulate

00:57:48.580 uh two more houses and have you know four good rental properties um if if you're starting with just

00:57:56.060 100 but you know if you're starting with more you can do it faster so so five to ten years would

00:58:00.960 probably be like a reasonable timeline oh yeah definitely i mean in in five years i mean like

00:58:08.880 if you would have been our client in 2019 or 2020 and bought properties and held them through the

00:58:18.240 covet era you have seen your properties appreciate like 47 it's incredible what happened i mean it's

00:58:26.140 just insane and um all of these doomers that keep talking about how you know the market's going to

00:58:32.500 crash and you know the world's going to end and all that stuff you know i understand those arguments i

00:58:37.260 mean i totally get them i'm not unaware of them but what they don't realize is that every morning

00:58:43.860 eight billion people wake up and the the number one question and number one goal on every human's mind

00:58:53.240 even if they're a drug addict or an alcoholic or uh you know a kid um you know it doesn't matter

00:59:00.980 every human has the same thing how can i improve my situation today how can i improve my situation

00:59:07.780 right if it's a if it's an addict it's getting their next fix right and i'm not saying that's good

00:59:13.140 i'm just saying that's him to them it's improving their situation right and uh you know but if it's a

00:59:18.080 business person you go out into the world and create value and and you've improved your situation

00:59:23.580 and since most of the world thankfully lives under capitalism now rather than communism like it did

00:59:29.800 before uh i mean you know the only way you can improve your situation is by improving someone

00:59:34.920 else's situation right and and the the the massive amount of energy that's going into that flywheel

00:59:43.400 to keep things going it's incredible you know uh people just figure stuff out you know rich um

00:59:50.520 we all remember 2007 2008 the great recession right the global financial crisis yeah and um

00:59:58.400 one of the things i i said back then on my podcast to my investors is i said look the day before and

01:00:05.640 most people think the day that crisis started was when lehman brothers fell okay when they failed

01:00:11.200 and the day before lehman failed the world had the exact same amount of real estate of oil of gold

01:00:19.060 of you know everything right it didn't change after the crisis started right it all it did is change

01:00:28.020 positions as to who was on the side of the trade right and you know i just want to help people get on

01:00:34.880 the right side of the trade uh it's kind of like you do in life and love life you want to help guys get

01:00:39.740 on the right side of the trade yeah i mean um i like talking to guys like when i did george gammon's uh

01:00:48.540 you know conference it was like basically like hey guys you know you you're you're making a lot

01:00:52.740 of money or you're going to be making a lot of money here's how not to lose that fucking money

01:00:56.340 that you're making when it comes to relationships right um so that's always an interesting conversation

01:01:01.040 um so let's let's start to wrap it up on that note because i want to respect your time because i know

01:01:05.840 that you got another uh thing happening after this shortly um last question i i just see her in the

01:01:10.520 chats from my boy lair and he's like you know what direction would you suggest to

01:01:14.080 go to build the first 100k i think you mentioned earlier that you've got like zooms and like an

01:01:18.960 empowered investor program is there somewhere where people should go to sort of start with

01:01:23.120 those basics to sort of get the wheels turning yeah i think that you know the first thing with

01:01:27.920 anything is education obviously and um you know when i discovered you rich i i didn't i did not know

01:01:33.460 what i didn't know right and now i know what i didn't know because i followed your work uh in in

01:01:38.940 your field and in my field it's the same way you're just going to learn a lot of stuff you

01:01:42.980 know listen to my youtube channel listen to my podcast um join our monthly master classes they're

01:01:48.480 totally free you don't have to spend a penny for any of this stuff it's all free and um and then

01:01:54.120 you know get your first property and just pay attention to it okay um andrew carnegie had a great

01:02:00.500 saying he said the secret to wealth is put all your eggs in one basket and watch that basket

01:02:07.400 basket okay um you know as long as it's a good basket right uh and just watch that basket and

01:02:13.580 manage it and um you know it it will work for you and really the only things to do are a business and

01:02:20.300 the real estate that's i i don't i don't know of anything else that's reliable that you can do other

01:02:25.820 than those two things so for those of guys watching i'll i'll add jason's youtube channel little

01:02:31.320 little tag sort of hyperlink in the title of the youtube video so you can go sort of start there and go

01:02:35.220 down the rabbit hole um and again if you're interested in maybe meeting jason in person and

01:02:40.240 hearing his talk he'll he'll be at the one percent forum october 17th 19th and uh those tickets are

01:02:45.780 now available to the public entrepreneurs and cars.com forward slash the dash one dash forum dash

01:02:51.100 2025 which is in the ticker below it's been ticking along the entire show jason thanks for joining me i

01:02:57.320 look forward to uh seeing you in the fall and hanging out again soon so much yeah thanks thanks rich

01:03:03.080 and i look forward to seeing a lot of your followers in toronto it's going to be great

01:03:08.320 looking forward to the event thanks man we'll talk to you soon all right guys if you enjoyed that

01:03:12.640 podcast make sure you visit my website at rich cooper.ca to learn more about my courses my book

01:03:19.260 the unplugged alpha community or booking me for private coaching also if you are a canadian with

01:03:24.240 fifteen thousand dollars or more of credit card debt and what you are doing right now isn't paying

01:03:28.740 off the balances then visit totaldebtfreedom.ca and hit get a free quote to see if you qualify to

01:03:36.380 settle your credit card debt for less than you owe today over the next 48 months make sure you check

01:03:40.840 out the top pinned comment on youtube for all the links mentioned during the show peace

Playing to Win - June 26, 2025

PTW#103 Jason Hartman

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