This week Jason shares some inspiration from his daily “huddle” with The Platinum Team, thoughts on oil and energy price increases and interviews two experts from different fields. First, Don Fullman, President, Platinum Investment Properties – West (not part of Platinum Properties Investor Network) exploring the nuances of investing in tax lien certificates and tax deed offering potential returns of 16% to a whopping 36%. It’s almost as good as direct ownership of rental properties when done correctly and you may want to consider investing in tax certificates and a good way to beat inflation, taxes and offer more diversification. You can reach Don at 877-335-2529 for more info.
Next, Eric Lofholm on how to uncover the secrets of closing more sales, generating more referrals, improved goal setting, improved time management and more. Eric is a Master Sales Trainer who has trained tens of thousands of sales professionals nationwide. He is President and CEO of Eric Lofholm International, Inc., an organization he founded to serve the needs of sales professionals worldwide.
Eric has been trained by the top trainers of his time including: Anthony Robbins and Dr. Donald Moine Ph. D. as well as countless others. He has an insatiable quest for knowledge that he feeds by reading, listening to audio tapes, and attending seminars regularly.
Many of America’s top companies hire Eric regularly to train, motivate, and inspire their sales teams. His clients have added millions of dollars in sales to their record after attending Eric’s energetic and groundbreaking seminars. Eric has delivered over 1,500 public and private presentations in companies such as:
| Microsoft | Century 21 | Prudential |
| Smith Barney | RE/MAX | Acordia |
| Primerica | Bell Atlantic | Phillips |
| State Prison | Texas Instruments | The U.S. Army |
| Bell South | Ford Motor Company | Fortis |
| Norwest Mortgage | Mary Kay | Olde Discount Bkrs |
| Bank of New York | Excel Communications | Merrill Lynch |
| GTE | Chrysler | Coldwell Banker |
| Lexus | Pritchett and Associates | Sebastiani |
| World Financial Group | Ikon | Hilton |
| CitiCorp | Sheraton | Danka |
| MCI | Nabisco | Sun Micro |
| ERA | Time Warner | Pitney Bowes |
| Sega | Silicon Graphics | Acura |
| Chamber of Commerce | Toyota | Honda |
| Toastmasters |
Announcer: Welcome to Creating Wealth with Jason Hartman, President of Platinum Properties Investor Network in Newport Beach, California. During this weekly program, Jason is going to tell you some really exciting things that you probably haven’t thought of before or a new slant on real estate, fresh new approaches to America’s best investment that will enable you to create more wealth and happiness then you ever thought possible.
Jason is a genuine, self-made multi-millionaire, who not only talks the talk, but walks the walk. He’s been a successful investor for 20 years, and currently owns properties in nine states.
This program will help you follow in Jason’s footsteps on the road to financial freedom through real estate. You really can do it. And now, here’s your host, Jason Hartman.
Jason Hartman: Hello, it’s Jason Hartman. Welcome to Podcast No. 31. We’ve got some interesting stuff for you here today, a very packed podcast. We’re getting to the point where we have so much content and so many things we want to share with you that there’s just not enough time. And my idea is that a podcast should be, ideally, around 30, 40 minutes long. So we’re trying to pack a lot of stuff in here. And we’ve just got loads of great content, many guest experts coming up in future podcasts that have, frankly, already been recorded. But we try to dole them out about every week or every five days or so to you and get this information.
Before I get into anything, I just wanted to say thank you so much to all of our listeners from about 26 countries around the world now. We know we have a lot of you listening, and we appreciate your comments, your emails, your feedback, and, of course, most of all, your business. So if we can help you in any way, feel free to give us a call.
Don’t just listen passively. We’re here to help you. Give us a call. Go to our website. Fill out any of the web forms there, and inquire about our services. I think you’ll really like them. And remember, they’re all basically free. The only way we earn money here is by setting up referrals and helping you find the right properties, and that makes us attached to the outcome of your investments.
So it’s a much better thing then the typical companies that sell books and CDs and all that kind of stuff and overpriced $10,000.00 or $5,000.00 weekend seminars. We give all that away, and we appreciate the feedback we’ve had on that, but we do want to earn you business. So if we can help you, let us know.
I’d like to start with something a little bit inspirational today before we get into a lot of content that we have coming up with a couple of guests. In our office, we do what we call a “huddle” every morning here, where we stand around the room, and the different team members here at Platinum Properties Investor Network share what’s going on in their marketplaces, what’s going on in the business, what are clients saying, what are property managers saying, what services can we bring to you as investors, and what do we have going on.
And one of the things that Karen does every day is, she reads a little card to us, and they’re on various different subjects by different authors. And this one I just liked, and I thought I’d share it with you. It says, “Feed your internal flame.” Have you ever wondered why certain people light up a room when they walk in? Why do some of us have the clarity to envision an inspiring future and the courage to go after our dreams? You may think it’s a result of charisma or determination or just plain old good luck, but I’ve come to understand that it’s the strength of our life force, that unique, inner power that keeps us alive, spiritually and physically, that gives us the stamina to translate our dreams into realities.
You can think of your life force as the flame that lives inside you, giving you passion, strength, and energy. Every choice you make either adds to this force, making it stronger and brighter, or diminishes your inner force, reducing its power. Your assignment this week is to make choices that feed your flame. So remember, every choice, every thought, literally, of course, either subtracts or adds to our life in some way. So make your thoughts positive, make them abundant, and go out and live the best life you possibly can.
Another comment – and this is off the subject of inspiration, but I just thought I’d share that with you. That’s Earl Nightingale kind of thinking. We become what we thing about. And that’s a great mentor of mine, many years ago, that really changed my life.
There was an article recently in USA Today. I’m reading the Monday, October 29 issue, so it was just a couple of days ago. By the way, happy Halloween for the Americans out there. We just had some clients from Switzerland in our office a few minutes ago, and they’re looking at buying American real estate. They want to purchase about 20 properties in several states, initially, and ramp that up to, hopefully, about 200, 250 properties over the next five years. And they recognized the opportunity because our dollar is so weak, and now, that’s not so great for Americans, unless you have a lot of debt on your real estate, as we’ve talked about in past podcasts because, of course, you get to pay that debt back in depreciating dollars.
And the Fed met today, on another tangent here, so we’re going to see some more easing of the money supply, which means more inflation and more devaluation of the dollar. So foreign buyers, really, your opportunity for cheap American real estate is exceptional. And on that subject of inflation, this article from two days ago, USA Today comes up. They talk about energy costs, the credit crunch, and housing woes being taught concerns about the economy.
But of course, you listeners to our podcasts realize that you read between those headlines, and you understand that there is no such thing as a national housing market, only a bunch of local markets. And remember, all real estate is local. All real estate is local.
This article, what’s interesting about it is a little part of it that talks about rising energy costs. Now, the government misleads us into thinking that inflation is only about 4 percent, annually, here in the States. But it’s really much higher, and you see the evidence all over the place, which makes me wonder how they can keep telling that story, that inflation is only 4 percent or so.
So this article, part of it chronicles the owner of the California Wine Club, a wine-of-the-month club, featuring small, state wineries. The owner here, his name is Bruce, says that his transportation bill is nearly equal now because of increased energy cost and inflation, in general, nearly equal to his wine cost, as fuel surcharges, which are added on top of the regular shipping bill, have increased as high as 33 percent. That means that a shipment that was originally $100.00, now ends up costing $130.00.
And it says that he passes this cost along to the customers of the wine club, and so far, no one has cancelled their account because of the higher fees. But folks, inflation is such a wonderful thing when we’re real estate investors. It just helps us in two ways. It reduces our debt – okay – through inflationary principal reduction, and number two, it makes our properties appreciate.
And on a future podcast, I’m going to talk about a very important concept, which I call – I have sort of two names for it – I call it packaged commodities investing or assembled commodities investing. I haven’t quite had the time to put the podcast together yet, but I think you’ll find that very interesting, especially as it relates to inflationary pressures.
Now, today, I want to talk about two things. I have two guests on this podcast. The first one is Don Fullman. And Don Fullman is an expert in tax lien investing. And I have to say, we don’t make a penny off of this, unfortunately. I wish I could. But I do invest with him, and I just wanted to share it with you because I think, of course, nothing so far that I have seen beats real estate investing the way we recommend you do it.
But tax lien investing is pretty good. It’s not bad. The rule is that you need to make at least 16 to 17 percent, annually, to at least tread water against the pressures of real inflation rates and taxes. And with tax lien investing, you can do better than that. So I was pretty impressed. I am in investor with Don, and I’ve invested well over $100,000.00 with him now in tax liens, and I find it to be a pretty good deal. It’s a little bit extraordinary, in terms of it being different from other investments. It’s kind of odd, and you’ll hear us talk about that. It’s not completely risk-free, but I just wanted to bring this to you and talk a little bit about tax lien investing because I thought it would be interesting to you.
So now, let’s go to the interview. I’d like to welcome to the office here Don Fullman, who is President of Platinum Investment Properties-West or PIP-West. And I just want to mention that although we have a coincidental name for our special guest today, Platinum Investment Properties-West is not affiliated in any formal way with Platinum Properties Investor Network, other than we know Don through the industry, and I do personally invest with him a little bit, so welcome, Don Fullman.
Don Fullman: Well, thank you Jason. I appreciate your invitation.
Jason Hartman: It’s great to have you here. Today we’re talking about tax lien certificates, and this is an interesting topic. I’ve read a bit about it. Of course, I invest with you a little bit, myself. And what exactly does your company do?
Don Fullman: Basically, we purchase and manage default real estate investments, including tax lien certificates, as well as foreclosure properties. Tax lien certificates are the primary heart of our offerings, and they, basically, are a way where a county can recoup funds or taxes that are delinquent on properties and get their operating expenses. And it acts as an investment for an owner of a tax lien as with a high-yield interest.
Jason Hartman: We’re not talking about real estate investing, now. We’re talking about investing in something that’s attached to the real estate, which is a tax lien certificate. So what is a tax lien certificate? In a little more detail, if you could.
Don Fullman: It’s a senior lien, or a high-priority lien, ahead of a mortgage, that’s secured by the property, and it’s issued by the county on the property of the delinquent taxpayer. It’s analogous to a C.D., except it’s secured by the property, and it has a high interest rate based on whatever the winning bid is in an auction. So it’s a way for the county to get the operating funds they need, and the purchaser of the tax lien certificate has an investment that has a high-yield interest yield.
Jason Hartman: Here, you say these are auctioned off by counties to collect delinquent taxes. I don’t want to go to any auctions. I don’t have time for that. Can you elaborate on that?
Don Fullman: Basically, that is what we do. We do all the work on purchasing these, the due diligence in selecting which ones we purchase, as well as managing the portfolio after the purchase. So we, actually, are walking into the auctions to purchase these, based on our due diligence research to pick the best liens, the one’s that are the highest redemption rate.
Jason Hartman: What are the interest rates paid on these tax lien certificates?
Don Fullman: They vary from 0 percent, up to 36 percent. Our focus is on states that have liens at 16 percent through 36 percent.
Jason Hartman: That’s an excellent return. Now, that’s an annualized number?
Don Fullman: That is, yes.
Jason Hartman: Fantastic. Are tax liens always available?
Don Fullman: They are always available through any given county. Throughout the year, the different counties or different states have their auctions at different times. So for example, in the fall, the Illinois counties have their auctions. Their maximum rate’s 36 percent, and it’s bid down to whatever the winning bid would be. In springtime is Arizona at 16 percent, Florida in the summer, Iowa in the summer. So a state has their options at different of year, but a given state is not available at any given time. But there is plenty of ample opportunity to reinvest funds that you get in redemptions for them.
Jason Hartman: Okay. And Don, I originally learned about tax lien investing back in, maybe 1997 or so, and it fascinated me. I was listening to an audio program by Robert Allen, the real estate guru, and he was talking about it, and I thought, “That is a fascinating investment.” But I never did it until I met you about a year and half, two years ago, when we met. And can you do this in California, for example?
Don Fullman: Tax lien certificates are not available in California, but tax deeds are. Across the country, half the states are tax deed states, and half are tax lien certificate states. The one’s we focus on are the tax lien states. California is a tax deed state. The actual property is auctioned off after five years at their auctions. So there’s no certificate, no interest earnings. The county holds them until they actually auction off the tax deed.
Jason Hartman: You don’t like the tax deeds, then, as much as tax liens. Is that what I should gather from that?
Don Fullman: We do if the opportunity is there. In other words, if we can purchase a property at a very high equity position, California does not currently have that type of opportunity, although it’s likely or possible that it will in the future.
Jason Hartman: Yeah. I’d say, California right now, the market’s going in the wrong direction, maybe. So that’s one of the issues. What are the risks of tax lien investing? And how can people lose money in this?
Don Fullman: The risk in tax lien investing is not understanding the system, not understanding the filings, not understanding the domain of purchasing tax liens, as well as manage them. There are a lot of gurus that are teaching and promoting information on tax liens. However, there’s a lot of information involved with it, and doing proper due diligence, as well as knowing how to handle different occurrences, such as bankruptcy or IRS liens or other type of city citations, that’s what we do. That’s what we’ve done for ten years. We have long-time experience in purchasing tax liens.
So the risks are mainly in the purchasing and managing it, whereas the tax lien, itself, is a high-priority lien on the property that’s ahead of a mortgage. So it’s secure, in that respect.
Jason Hartman: Okay, good. That’s what we say to our clients is there’s so much misinformation out there when it comes to real estate investing. We have people who have been to all the seminars. They’ve spent a fortune on all this stuff. They’ve read the books. And they just found it hard to execute in the real world and actually do this. And then, they come to us, and we really help them execute the strategy of prudent, legitimate investing that works in everyday life. And it sounds like that’s what you do, too. So you’re basically acting as the person’s agent, your company?
Don Fullman: That’s correct. We’re the purchasing and management agent for an investor, where there’s no account of funds that we hold on site. We take the cashier’s checks made out to the county –
Jason Hartman: Right.
Don Fullman: – and walk them into the auctions for the county’s auction and purchase the liens with those checks. So we’re acting on behalf of the investor and purchasing the tax liens in their name. The investor owns the tax liens, and we manage them, and we take care of all the specifics on that, as well as the research to select the correct ones, the right ones.
Jason Hartman: Okay, Don. What about the actual property, itself? Basically here, when we buy a tax lien certificate, in a way, aren’t we sort of, like, thinking the way the mortgage company or the lender would think on the property? We have to think about our collateral, right? What about the property itself?
Don Fullman: Absolutely. In fact, that’s a very good point because the due diligence that we do in advance of the auction is to find properties that are good properties. They’re not worthless ones, not strips of land along the freeway. They are good collateral and are marketable in the event that there is a need to foreclose on it, which kind of segues into the strategy that we have for tax lien investing, which is focusing on liens that are high redemption rate liens.
We are not purchasing the liens with the intent of foreclosing. Our intent is to earn the high interest rates. It is very important to have the good collateral for the liens, as well as process the high yield that comes with that. However, in the event that we do need to foreclose, we are able to, and it would be a marketable property to liquidate thereafter.
Jason Hartman: Okay. But how do you know what the redemption rate will be? I mean, you’re making, basically, a prediction, right? What do you use to make that prediction? And when you say redemption, maybe we should explain that to the listener. You mean that the person got a tax lien against them because they didn’t pay their taxes, and we’re talking property taxes here, right?
Don Fullman: That’s right.
Jason Hartman: So they got a tax lien. They didn’t pay their property tax bill. And then, they have a chance to pay it and redeem. Is that what you mean?
Don Fullman: That’s right. When the tax lien is sold in the auction to an investor, the property owner now has a tax lien on their property that they owe to the county. They need to make payment to the county, plus the interest rate. So the redemption is when that payment is made to the county, and they remove their tax lien from the property. The investor gets the funds from the other side. However, the payment is made, and that’s called redemption.
So how we know there are high redemption rates is the due diligence that we do is searching for liens on the list of the auction to make sure that there’s been a history of tax payment and, certainly, that there’s a good quality property backing up the lien. We make sure that there’s plenty of equity backing it up, at least a factor of ten, if not 40 or 50 times the cost of the lien.
Jason Hartman: So in other words, if the property is – let’s just use a nice round figure – a probably more expensive property than this, but say it’s a $100,000.00 property, and the person has $40,000.00 in equity, and the tax lien might be $1,000.00, right?
Don Fullman: That’s right.
Jason Hartman: So that means the equity in the property is 40 times the amount of the lien.
Don Fullman: That’s right.
Jason Hartman: In other words, you’re thinking from, like, the owner’s perspective, the person who owns the property. So who’s going to be dumb enough to let $40,000.00 go away for the cost of only a $1,000.00 obligation to pay the tax lien, right?
Don Fullman: Exactly. That contributes to the high rate of redemption, as well. If there’s plenty of equity, the property owner doesn’t want to let that go to a tax lien holder.
Jason Hartman: Okay. So what – of course, we’ve oversimplified that example, but it makes the point. So that’s good. Why would investors use PIP-West to purchase some managed tax liens? Can’t they do it themselves?
Don Fullman: Absolutely. They can do it themselves. In fact, a lot of the materials promote that. However, it’s a fairly labor-intensive activity. It’s very important that all the steps are followed, as well, so you could, as we talked about with risks, if you don’t know the procedures, the steps how to do the proper due diligence, you could lose money. So a major reason to use someone like PIP–West is that we have done it. We know how to do it. We know the risks. We take care of alleviating them, make sure that we do the proper filings, and basically, that’s our expertise. We know how to do it.
Jason Hartman: What is your performance on these tax lien purchases?
Don Fullman: Our performance objective is in Illinois, for example, where there’s a maximum interest rate of 36 percent, is to average a client’s portfolio between 26 and 36 percent.
Jason Hartman: Now, why does it differ? You say there’s a maximum interest rate paid to the holder of the lien, right?
Don Fullman: Yes.
Jason Hartman: Why would it be lower than that or higher?
Don Fullman: Well, in the auction environment, there’s a maximum rate that is the opening bid, and then, if someone bids that, and someone else wants the lien more, they would bid a lower rate. So the rate can drop down to even 3 percent, 5 percent, or 0 percent. Our focus is to not buy liens that go down to that rate. It’s to buy liens that are at the high end of the interest rate range. So we can stop bidding on any lien when it goes below our performance threshold.
And again, back to the performance objective that we have is to average a portfolio for an investor between 26 and 36 percent, annualized return, which – for gross yield. And our performance last year happened – the investor that had the lowest average was around 31 percent, so our actual purchase last year averaged between 31 and 36 percent, but our commitment is to be between 26 and 36. And that’s for Illinois, who has a maximum rate of 36 percent.
Jason Hartman: And Illinois is the best. They pay the most, right?
Don Fullman: That’s right.
Jason Hartman: If you’re in an auction, though, I don’t understand how you do that because doesn’t every other person in attendance bidding at the auction want the highest rate or the highest yield, too?
Don Fullman: No.
Jason Hartman: Really?
Don Fullman: Strange as it may seem, that’s not the case. If another person wants the lien more than you do, they will bid a lower rate then you did, and the train continues along that line until someone finally stops bidding on it, and the low bid wins. There are a lot of bidders out there with other strategies than the one that we promote. Again, ours is to get the maximum redemption rates, so that we get the high interest rate.
Other strategies and tax lien investing are to go for the properties. However, there are some rogue bidders out there that bid it down, seemingly indiscriminately, to very low rates, and they basically take the liens off the table. The only reason that we can figure out that they are doing that is hoping for the best in the odds of getting a foreclosure. However, it’s, in our mind, not a successful strategy. However, it is a strategy, and that is our competition in the auctions.
Jason Hartman: So in other words, just like a lender, sometimes the lender actually profits by having the property go into foreclosure because they pick up a bunch of equity and a good property, right?
Don Fullman: Right.
Jason Hartman: So the same with the tax lien investor. So what you’re saying is that your strategy is to never take a property back in foreclosure. Is that correct?
Don Fullman: No. That’s not correct.
Jason Hartman: Okay.
Don Fullman: Typically, in the high 90 percents of the number of liens in a portfolio, that’s the number that, historically, we have seen redeemed. So there are a couple stragglers that do not redeem by the maximum period, which in Illinois is three years. They mature in two and a half, we file an extension for three years, and by three years, the property owner needs to pay that, and we have a right to foreclose at that time. For the last couple, we look at it on a case-by-case basis, whether foreclosure is the best avenue. The lien will remain on the property thereafter. So it could be, you know, another year or two. We continue to try to obtain a redemption from the property owner, but foreclosure is a last step that we can follow through on, and it’s our right to do that.
Jason Hartman: Hopefully, you can answer this, but I just want to be clear. As an investor in tax lien certificates, do you or does your customer want to foreclose or not, or it depends?
Don Fullman: That’s a good question. I’ll answer it based on –
Jason Hartman: Answer like a politician. Don’t really answer. Answer another question. That’s what they all do. You ask a question, and then they say, “Well, I’d like to answer this other question instead.”
Don Fullman: Yeah. Right. That’s great.
Jason Hartman: It’s an election time coming up here, so –
Don Fullman: Absolutely. Basically, our criteria is to earn the highest yield for the investor. That’s what our decision will be based on. That’s what our recommendation would be based on to our investor client that has the choice of foreclosing on a property or not. If in fact, the profits can be much higher with foreclosure, we will definitely recommend that. If not, it may be better just to sit on it, encourage redemption over the next couple of years, but it’s really on a case-by-case basis. We have pursued foreclosure, and we have chosen not to, based on specific properties that investors have had the right to foreclose on.
And again, it’s a minority case because the majority is high redemption rate liens. And so it’s only on the last couple stragglers at the end of their portfolio.
Jason Hartman: Okay. And so the thing I also want to make sure people understand is that the returns you quote of 26, 36 percent, that’s before your company’s fees.
Don Fullman: That’s right.
Jason Hartman: So when that’s equated into it, it’s just like a brokerage account at Merrill Lynch or Bear Stearns or any of these companies. You might have return of, well, in their case, probably only a measly 8 percent or something, but they’ll charge 1.3 percent as a management fee. So you’ve got to make money, too, to support your business. So that’s the gross return, not the net return. But the net return is still very good if this is done properly, obviously.
Don Fullman: Absolutely.
Jason Hartman: Okay. So your strategy is high-yield, high redemption rate. Do you frequently foreclose on properties when you’re investing, or how often does it happen? You know, we were just talking about foreclosure. I mean, it’s a rare thing, it sounds like, right?
Don Fullman: It is very rare. In fact, our objective is not to foreclose because we want the redemption, but it’s our right to foreclose if that is the best way to obtain the return for the investment of that particular lien. So it is definitely a choice that we consider. We analyze the viability of it at the time, and again, on a case-by-case basis for the property, it may or may not be in our investor’s interest, as well. They may not want to expend the cost, which could be anywhere from $750.00 to $1250.00 to foreclose.
Jason Hartman: Well, that’s the next question I was going to ask you. Actually, it could be a lot more than that, depending on the damage to the property. Usually, you foreclose on properties, and the people bang them up pretty good before they go. The best time to have a huge party is before you’re getting foreclosed on, right? Foreclosure party.
Don Fullman: And we check the viability of that foreclosing, just for those reasons.
Jason Hartman: The thing I was going to ask you about that is, I’m sitting here in California as an investor, and you’re out buying tax lien certificates for properties in Illinois and other states for me, and then one, it makes sense to foreclose. I mean, I don’t know how to handle that. I don’t have time to handle it. I’ve never seen these properties. Do you do all that for the client?
Don Fullman: Yes, we do. We do engage third-party experts in foreclosure in particular regions of the country, in Texas or Illinois or Florida. We utilize experts there, and that’s where the cost of foreclosure comes from, to pay them for their services to follow through on foreclosure. We are managing the investment, engaging with the proper foreclosure experts, and following through and making sure that happens.
Jason Hartman: Excellent. And what kind of reports or paperwork or statements do I see as a tax lien investor? I know, Don, when I started investing with you, I was rather confused. I’d get a statement, and then, I gave you a chunk of money to start with, and then, you sent me some money, and then, you asked me for some more money. And I just didn’t get this, like, “Why am I putting more money into the deal, but you just sent a check at the same time.”
Don Fullman: It’s a give-and-take type of investment.
Jason Hartman: I guess so.
Don Fullman: No, I’m just kidding. Basically, as far as paperwork, once we make the purchase, we provide you a full, detailed report of your purchase. A list of the liens in an Excel spreadsheet, copies of the tax lien certificates. We hold the originals, so that we can interface with the county and return them when requested. Basically, you’ll receive, also, a refund of what funds are not spent. When redemptions occur, we send you a report on your list of liens and show which one redeemed and the amount of money that was resulted from that.
So that’s the money that you receive in the interim, and we do have an initial fee that is a new capital fee, as well as a 2 percent premium in Illinois, which – because of the high competition in Illinois. But then, also, quarterly management fees of 1 percent each quarter. We do keep in touch with you and ask for money. However, the net yield is still significant, based on our performance objective for the liens.
Jason Hartman: Excellent. Excellent. And on our website, we’ll have the link to your website, as well. So any of our listeners can just go to www.jasonhartman.com and look in the show notes, and we’ll have Don’s information there for you. Any closing comments about tax lien investing?
Don Fullman: Well, I guess, it is an area of investment that I encountered years ago, and I thought that after the stock market experience that we’ve all had and shared and are still sharing –
Jason Hartman: And it’s usually not a pleasant one.
Don Fullman: Up and down. There’s one thing that I recognize about tax liens is they cannot go down in value. They are like a CD, as far as – except they’re a secured CD. It has an interest rate return. It’s secured by real estate. And I’ve never found a better, more secure type of investment. And certainly subject to the risk of doing it yourself if you’re not fully informed about it, which is the reason to utilize a company such as ours that have experience with it, and it’s just an area that I’ve always really enjoyed, as well as real estate, in general.
Jason Hartman: Excellent. Don, thank you so much for being with us and being part of the Platinum team.
Don Fullman: Thank you very much, Jason.
Jason Hartman: Thanks.
Don Fullman: Appreciate the invitation.
Jason Hartman: All right. I hope you learned something and enjoyed the presentation on tax lien investing. Now, I want to do something really different. This podcast is pretty much about real estate investing, but technically, the name of it is Creating Wealth, and there are many ways to create wealth. Real estate, I think, is certainly the most reliable and the most successful and the most proven, historically.
But it is also very important to be a good sales person because if you think about it, everything we do in life, we are selling something. Hey, are you trying to get a date with that gorgeous woman out there? Are you trying to convince your children to do something? Are you trying to convince your employees to do something? You’re always selling in some form. Trying to convince your parents to do something for you, you’re doing sales. Again, trying to convince your property manager to do something? Sales techniques are very important.
So a good expert that used to come in to talk at our office meetings at my former company has graciously agreed to be interviewed by me over the phone on some of his sales techniques. His name is Eric Lofholm, and he really is a pro in the field of sales, and I think you’ll really enjoy this interview. So let’s go to the recently recorded phone interview I had with Eric, and listen in and enjoy.
Well Eric, it’s great to have you today. First of all, I’d like to ask you, what got you interested in the subject of being a sales trainer?
Eric Lofholm: Yeah. It’s a great question, Jason. I never even had the goal to go into sales, let alone become a sales trainer. I drifted into sales like, probably, so many people, never having the intention of going into sales. I met a mentor named Dante Pronna, who was a real estate investor, and I wanted to learn how to become a real estate investor. In order to be mentored by him, he said I had to do sales for him.
Jason Hartman: Now, that’s interesting because here we are, we usually talk about real estate investing, and it’s such an exciting day today that we’re taking a little bit of a turn onto the subject of sales. But that relates, doesn’t it?
Eric Lofholm: Yeah, absolutely. I had that dream, years ago, of becoming financially free through real estate investing, and I started attending real estate educational programs, and that’s where I met Dante. And I was so inspired by his message that I wanted to work for him, and he said, “Okay. You can work for me in a sales capacity.”
So I went there, not to do sales, but to associate with Dante, and they had a quota there. And the quota was $10,000.00 a month in gross sales. So my entire first year, I was the bottom producer. At the end of my first year, I missed quota two months in a row, and he threatened to fire me.
Jason Hartman: This isn’t exactly the kind of ramp-up I was hoping for.
Eric Lofholm: Well, it leads me to how I became outstanding at sales is I needed to hit quota to keep my job, and that caused me to look for training and mentors. I was introduced to my current mentor. He’s been my mentor for 15 years, Dr. Donald Moine. He wrote a book called Unlimited Selling Power, and he’s impacted thousands of sales people all over the world, and he became my coach when I was about to get fired. And with his help, I eventually became Dante’s top producer.
Jason Hartman: So how, really, did you become a sales superstar, then?
Eric Lofholm: Well, it was through – number one was desire, and then, number two is I had the right training. Dr. Moine has spent his lifetime studying sales superstars and identifying what separates them from the rest. He discovered that although some salespeople are born, most aren’t, and it comes from a matter of getting proper training. And so he’s developed a system to train other salespeople how to be superstars, and so I became one of his clients years ago, and now, he’s my business partner.
And how I became a trainer of this information, I was – we’re all born with gifts, and the gift I was born with is the gift to teach others. And once I learned how to be effective at selling, and then, I apply that with my natural gift of training, and I started sharing with others what Dr. Moine had taught me, and I started having some tremendous success sharing with other people how they could then become sales superstars.
Jason Hartman: Many people, Eric, have a negative view of sales. What advice would you give someone who resists this? First of all, maybe before you even answer that question, you know, we’re all selling something, aren’t we? Real estate investors, people that are in the business of sales, mothers selling an idea to their kids to get them to do something, to do what they want, but many people have this negative perception of sales. What do you do to help them overcome that, or what do you say to them?
Eric Lofholm: Yeah. This is one of the ways that I create incredible breakthroughs with many of my clients, and it’s very common for someone to have a negative association of sales. It’s actually our cultural hypnosis, and hypnosis is simply the non-critical acceptance of an idea. So there’s this idea in our culture that sales is a bad thing.
When you think of a salesperson, people think of arm-twisting, high-pressure, manipulation, used-car sales. It’s all negative. And many people that are listening to this right now, when they think of sales, they probably have a negative thought. And the challenge is, that if you have a negative view on selling, you’ll never embrace the power that you could have with learning awesome sales techniques.
A real estate investor uses sales when influencing a distressed homeowner to sell their property, to getting an investor in on the deal, to getting the contract, or to do the work at the price they want to pay. Real estate investors, it’s a huge impact on their ability to influence others, and so what I do is I teach people that selling is not the arm-twisting, high-pressure. That’s not what it is. Selling equals service. It’s all about serving others. When you sell, sell from honesty, integrity, and compassion. So I give people a way to view sales that they can get their arms around, embrace, and then, ultimately become outstanding at.
Jason Hartman: Excellent. Today – nowadays, Eric, everybody wants instant gratification. We want it all right now. What is the fastest and the easiest way to just totally increase sales results?
Eric Lofholm: It comes down to the sales presentation. We all use sales presentations. Back to the investor example, you go and look for other people to put the money up for your real estate deal. That is going to be a sales presentation. If you go and meet with a distressed homeowner, that’s a sales presentation. And so the presentation is key, and what most people do is, they wing it. And when you wing a sales presentation, you’re going to get wing-it results.
And so I teach people how to create powerful sales scripts. And many people resist the idea of scripting because their view of a script is canned, rehearsed, inauthentic. The actual definition of a script is words in sequence that have meaning. So if you’re saying sentences that make sense, you’re using a script, and then knowing that we all use scripts.
Now, the next point is to step back and ask yourself, “What’s the most powerful, effective way for me to deliver my presentation?” And this is what I teach my clients, how to be more prepared, more persuasive, and more effective on every presentation that they give.
Jason Hartman: So give us some tips on how you can be – obviously, being prepared is a good idea.
Eric Lofholm: Yeah.
Jason Hartman: I completely agree with that, and in training my salespeople over the years, I’ve always said the same thing. Pilots use checklists. People, after doing things that are really good at it in, medicine and in critical – mission-critical things like flying an airline, you know, people that have been doing it 30 years, they’re still using a checklist.
Eric Lofholm: Yep.
Jason Hartman: I mean, you’d think, “Well, gosh. They must know by now.” But they don’t. They don’t wing it, fortunately, because our lives are in the balance. But you know, give us some tips, beyond preparation, as to how people can dramatically improve their presentations when it comes to sales. And by the way, I think we should probably clarify for the listeners, too, Eric, that a presentation isn’t necessarily something really formal, is it? I mean, sometimes a presentation is, you’re over at a property or getting a bid on repainting the house so that you can rent it for more money, and it’s just a quick discussion with a contractor, right?
Eric Lofholm: Right.
Jason Hartman: So it’s not necessarily a formalized presentation, right?
Eric Lofholm: Yeah, absolutely. There’re different types of presentations. I could be out at the shopping market, I’m a sales trainer, and bump into somebody, and they happen to be in sales, and what I say to them could have an influence as to whether or not they choose to do business with me. So there’re all different types of presentation, and certainly, one type of presentation will be a formal one, and then you’ve got the informal one that you just described.
But let me address your question of beyond preparation. One – here’s one simple tip that everyone can benefit from is, when we go out on a presentation, whether you view yourself as a salesperson or not, the prospect views you as a salesperson.
So let’s say that someone’s listening right now, and they buy distressed properties, and they go and meet with a homeowner that’s in a foreclosure status. And that homeowner is going to view them as a shark. “And this person is going to come in, and they’re going to take advantage of me,” and they’re going to really have their guard up.
So you go and meet with that person, and you want to influence that homeowner to give you the information, so potentially, you can purchase that property. When someone has their guard up, you’re going to have almost no influence with them.
So the first step that I teach in the sales process is trust and rapport. And what trust and rapport does is, rapport reduces resistance. And it’s not an intuitive thing. Like, intuitively, people don’t necessarily go in and start building trust and rapport. They might start sharing. “Tell me about the property.” They might – “How much are you willing to take for the property?” So before I do anything in the sales process, the first thing that I want to do is build trust and rapport. And there’s dozens of other things that I could share, as well.
Jason Hartman: Okay, excellent. Now, what is procession? What do you mean by that, and how can it help someone make more sales?
Eric Lofholm: Processional effect is an amazing concept. It’s actually a generalized principle. The definition of a generalized principle is a principle that works in every case. So gravity is an example. Gravity is always working. Procession is always working.
And when you take action towards a goal, there’s a processional effect, a side effect to action. So a quick example of this, one of my clients bought one of my goal-setting CDs, and she’s listening to them in her car, and she’s listened to them over and over and over again, and her 10-year-old son’s in the car. And he’s hearing these goal setting CDs, and he does not want to hear them another time, but his mom keeps playing them.
And through a series of events, she ended up teaching her 10-year-old son goal setting. When she bought the CDs, the intention was for her to learn goal setting. So that was a side effect to her taking action, was that her 10-year-old son learned goal setting. So that’s a processional effect.
In a sales presentation, typically, the salesperson’s goal is closing the sale, making money, hitting their quota. It’s some self-serving goal as the purpose for them of the sales presentation. And then, as a side effect or processional effect, some people get helped with their product or service. And I believe this is backwards.
My philosophy is that the purpose of a sales presentation is to add value to the prospect. And then, out of you adding value, the side effect is, they end up wanting to do business with you. So the mindset when you go out on a sales presentation is to focus on the client, serve the client, focus on adding value, and out of you being that in the sales presentation, you’re going to attract them to want to do business with you.
Jason Hartman: You know, that’s great advice, Eric, because I remember many years ago, when I had originally started when I was in college in traditional real estate sales, one of the people in my office had told me, “Make sure that when you’re dealing with a client, when you’re talking with a client, you don’t have in your mind the dollar signs.”
Some people are out-doing on a sales call, and they’re calculating exactly how much commission they’re going to make when this deal is closed. And just get that out of your mind, and focus on service and focus on being a value to the person. And that’ll just come naturally as a result of creating more value there so, great advice. Any more comments on my comment?
Eric Lofholm: Well, we’re on a short podcast here, and you’re asking me these different points, and we’re making quick points. But what I’ll share with all the listeners, if you really get what I just said, it can dramatically increase your income for the rest of your life.
You know, I know, Jason, you and I have known each other for many years, and I’ve watched you create tremendous success in your businesses. And I know that a big part of your success is that when you interact with people, you’re focusing on adding value, and it’s one of the secrets, if you will, of producing awesome success. And I encourage all of you to really listen to what I’m communicating around procession, and take action on that idea.
Jason Hartman: Excellent advice, Eric. Can you share with the listeners some of your closing techniques? I guess, we’re kind of going through the chronology here, right? We’ve prepared. We’re not winging it. We understand procession. So we show up with that in our whole psyche and in our whole presence, and now, it comes time to ask for the order. What are some closing techniques?
Eric Lofholm: Yeah. One closing technique is the actual process that you take the client through, similar to if you went and had a meal at the Olive Garden. You’d walk in. They’d give you a seat. They’d ask you, “Can I start you off with beverage? What kind of appetizer?” If you’d like an appetizer, soup, salad, the entrée, and there’s a sequence that you go through at a restaurant like the Olive Garden. And there’s a sequence in sales. I’ll go through it real quick.
We generate a lead. We set an appointment. Now, we’re on the appointment. We build trust and rapport. We identify customer needs. We share the benefits. And now, we’re ready to close. The close is the natural conclusion to a well-delivered sales presentation. It’s important that your close is clear and compelling.
We’re going to clearly communicate what it is that you’re offering, and then, we’re going to ask for the order and what – part of the language of influence is silence. So after we ask for the order, “How do you feel about moving forward today? Are you ready to take the next step? I’m open on Tuesday at 4:00 or Wednesday at 4:00. What would work best for you?”
These are examples of final, final closing statements, and then, you’re going to be silent. And the prospect’s going to say yes, no, or they’re going to give you an objection. And this is the exact process that I use to effortlessly, consistently, close sale after sale after sale.
Jason Hartman: That’s the good old pregnant pause.
Eric Lofholm: That’s right.
Jason Hartman: I think that’s very good advice. Absolutely. Now, most salespeople, Eric, think that objections are a bad thing, but I’ve actually found, over the years, that objections are actually a good thing. I don’t know what you’ll say about them, but just wanted to kind of share my perspective is that the worst client or the most difficult to make a sale to is someone who’s just sort of indifferent, where they’re not participating in the dialogue.
But if someone raises objections of, “I can’t afford it,” or “Not right now,” or whatever it might be, that, to me, is actually a sign that they’re engaged, and they’re thinking about it and moving down the path. What do you think about objections, and can you give us any handlers for common objections that listeners might facing in their sales careers?
Eric Lofholm: Sure. What we know, when we get to the end of the presentation, if you do the process that I just described, build the rapport, identify the need, share the benefits, you clearly communicate your close, and you ask for the order, one of three things we know is going to happen. They’re going to say yes, they’re going to say no, or they’re going to give you an objection like, “I don’t have the money. The price is too high. I need to think about it. Will you take a lower rate,” et cetera.
We know that’s going to happen. And unfortunately, Jason, for – I’m going to suggest 70 percent of the salespeople – they get an objection, and they’re stymied by it. They have no clue what to do. And it’s really important that you are able to, I call it, elegantly dance with the prospect.
So I don’t believe in the high-pressure techniques. I believe in communicating with the prospect in a way that’s comfortable for them, but it’s a way for you to respond to what it is that they’re saying. I call it elegantly dance with the prospect.
So here’re a couple techniques. I say to the prospect, “How do you feel about moving forward?” And they say, “I need to talk it over with my spouse.” Common objection. So you can handle that with a question. And after you ask the question, just like after you close, you’re going to be silent.
“How do you feel about moving forward?” “I need to talk it over with my spouse.” You could say, “Well, what do you think they’re going to say?” And then, after you say that, you’re silent. Or they say, “The price is too high.” And you say a question, “How much too much is it?” And you’re silent.
Now, that doesn’t close the sale, but it keeps the conversation going, and it starts the elegant dance. I’ll give you two other quick techniques. One is, no matter what they say, you say, “Tell me more about that.” They say, “I don’t have the money.” You say, “Tell me more about that.” They say, “I need to think about it.” You say, “Tell me more about that.”
And again, after you say, “Tell me more about that,” you’re going to be silent. Doesn’t close the sale, keeps the conversation going.
Jason Hartman: Those are terrific, Eric. Those are awesome. I’ve got one more I want to run by you because you’re the total expert, the sales trainer. But what was the other one you were going to say? I think you had another one for us.
Eric Lofholm: Well, you can handle an objection with a story.
Jason Hartman: Um hm.
Eric Lofholm: So they say – let’s say you’re a real estate agent, and they say, “Will you take a lower rate?” as far as the commission rate. You say, “Well, I can appreciate where you’re coming from. Let me share with you a quick story of a client that I recently worked with. They asked me the same thing, and I shared with them that I wouldn’t take a lower rate ,and here’s why. And they said, ‘Ah, that makes sense,’ and they ended up hiring me. I sold their home in x amount of days or weeks, and my rate is the rate. I am worth it. I’d love to work with you. How do feel about signing a listing right now?” So you handle the objection with a story of somebody in a similar situation.
Jason Hartman: That’s sort of like the feel, felt, found, almost.
Eric Lofholm: It’s similar to that, except that it’s centered around a powerful success story of someone just like them, who you ended up doing business with, and they’re enjoying those benefits, and then doing a call-to-action after that. So maybe it is the feel, felt, found. I language it around telling a success story. It’s very persuasive.
Jason Hartman: Let me see what you think of this one. I think you might like it, but I want to hear what you have to say. I used to use this one a lot in sales, but I also used it a lot in personal relationships. I remember, I used to do this on my ex-girlfriend, and she got a little tired of it after a while. I guess, maybe, that’s why she’s my ex-girlfriend.
But it was so cute when I’d do this to her because, you know, after she caught on, she’d kind of roll her eyes. She’d say – I’d ask her a question, and she’d say, “Well, I don’t know. I don’t know how I feel about that,” or whatever. And I’d say, “Well, if you did know.” And then, it forces the person to sort of explore their thoughts and think more deeply about the question about why or to rationalize or to justify it. What do you think of that “if you did know” question?
Eric Lofholm: Yeah. I actually use it quite often, especially in seminars. So when I’m teaching, from the front of the room, a group of students, and I might ask a student a question, and they go, “I don’t know.” And I simply respond with what you said. “I know you don’t know, but if you did know, what would it be?”
Jason Hartman: Yeah.
Eric Lofholm: And I picked this up when I used to be a trainer years ago for the Tony Robbins Organization. I would watch Tony use this script from the front of the room, and inevitably, the person that he was training would also come up with an answer. So scripts are great because human beings respond in predictable ways. So here’s a script that worked for you. It works for me. It works for Tony Robbins. It can work for somebody listening right now.
Jason Hartman: Excellent, excellent. Okay. So just to recap this session, if you would, I can do it or you can do it. Why don’t you do it? Recap, kind of, the points we covered on the process and –
Eric Lofholm: Sure. The key points are that selling equals service. So selling is not arm-twisting, high-pressure manipulation. Selling equals service. Sell from honesty, integrity, and compassion. When you go on the sales presentation, remember the processional effect. Focus on adding value, and as a side effect of adding value, you will earn the commissions.
And then, when you go out and sell, there’s a process to sell by: generate a lead, set an appointment, build trust and rapport, identify customer needs, share the benefits, close, ask for the order, and be silent. If they give an objection, elegantly dance with the prospect.
Jason Hartman: Excellent. That is such a great, quick way to sum it up. That’s awesome. Eric, how can people get involved with your organization and take advantage of your educational materials, your trainings, et cetera?
Eric Lofholm: Sure. I’ve got a couple of simple, free steps for them. One free step is to go to a website, www.7secretstosalesgreatness.com. The number seven secretstosalesgreatness.com. On that website, you can request a free audio download. You’ll immediately have access to it, and you can hear me deliver 45 minutes of powerful sales content.
My other website is thecloseseminar.com, www.thecloseseminar.com. We’re offering a two-day, $695.00 seminar for free on that website. So you can come down and spend two days of awesome training with me.
The last way is at my company. We offer a free phone consultation, where we’ll share with you how we can help you increase your sales results. So you can call up my office at toll free 888-81-SALES. 888-81-SALES, and we’ll spend 30 minutes with you on the phone, absolutely free. We’ll provide a consultation, where we’ll share with you how we can help you increase your sales results.
Jason Hartman: Excellent. Eric, thank you so much for being on the podcast today, and let’s have you back in the future on a different topic. But we really appreciate the time you gave us today, and thanks for joining us.
Eric Lofholm: Thanks, Jason. Bye-bye.
Jason Hartman: Okay. I hope that was helpful and beneficial for you to learn a little about sales techniques. And on occasion, from time to time, we’ll kind of get off the subject of real estate investing here and there and introduce some influential people in various fields of expertise that aren’t directly related to real estate. But of course, it’s all related to creating wealth and creating time and happiness and options in our life.
I recently read a great quote that wealth is a collection of possibilities. Isn’t that a great definition for wealth? A collection of possibilities? So with that in mind, we’ll give you lots of possibilities on the Creating Wealth podcast as time goes on.
Anyways, stay tuned for a couple announcements, and we will talk to you next week. Thanks for listening.
Jason Hartman: I’m here with Senior Area Manager, Karam, and we wanted to talk to you quickly about his recent trip. He just returned yesterday from Jackson, Mississippi. Karam, what did you find there?
Karam: Well, Jason, it was a very interesting trip. Unlike other areas, this is a very unique area, in the sense that we live here in California, and we go to all these markets, and every market is different. Jackson, Mississippi, on the other hand, the way it is different from the other areas is they don’t have the apartment complexes like we have in most of our metro areas.
Jason Hartman: Yeah. So you don’t have that high-density, attached housing, huh?
Karam: That’s correct. So what happens is all these houses have high demand of rental, and on the rental side, there is not too many houses available for rental. So there’s a quick rental, and you get the high rents. So the cash flow is better, but you have to drill it down to the micro area, the communities that we want to invest in by the investment properties.
First thing we look at is the school system. Now, if you look at any particular city in the suburbs, it may have a good school system, or it may not be a good school system. Now, one particular city may be half in one county, and the other half is in a different county.
Jason Hartman: So that was true of Hattiesburg, right?
Karam: That’s correct, yeah.
Jason Hartman: So if you look at Hattiesburg, you can’t choose by just Hattiesburg. Some of the area is not so good.
Karam: Not so good.
Jason Hartman: And some is a desirable investment area.
Karam: Right.
Jason Hartman: You were telling me about how they gave you a list of 131 properties that the broker thought would be good for our investors and the process of you narrowing it down and what you narrowed it down to. Why don’t you tell everyone that?
Karam: I just narrowed it down to 21 properties.
Jason Hartman: Out of 131.
Karam: Out of 131, and that’s all I will sell from, 21 properties, and they are in good school system, the good quality product, looking at the communities, the location of the communities, the location of the properties, and that’s all I came up with.
Jason Hartman: Excellent. So Karam, talk to us about this specific property you’ve got in front of me. This one is $179,760.00, so we’ll call it $180,000.00. It’s almost 1700 square feet. Projected rent is $1,500.00 a month. And return on investment, Karam?
Karam: Yes, 42 percent, believe it or not.
Jason Hartman: Forty-two percent projected ROI, and if you qualify, for all that goes on tax benefits, projected first year ROI is one 128 percent. Don’t try that in the stock market, huh?
Karam: That’s correct. The reason is, these areas, not only the high rent, but the property tax is very, very low.
Jason Hartman: Only a $195.00 a month on that property. Wow!
Karam: Right.
Jason Hartman: Good stuff. Okay, Karam. Anything else you want to talk to us about? Let’s – you’ve got one more property, maybe this one in Indianapolis. That looks kind of interesting. There’s some big discounts on this.
Karam: Yes. Indianapolis really surprised us, that market, and we are getting great deals.
Jason Hartman: Yeah. We weren’t expecting this one to be so good.
Karam: Yes. Great deals, and I’ll give you an example of the property that I sold yesterday, 2,101 square feet, four bedroom, two and a half bath, brand new, single-family house. Comes with a rent-ready package, meaning washer, dryer, refrigerator, blinds, garage door opener, front and back yard sodded for only $127,000.00. You know what that means, Jason, per square feet price?
Jason Hartman: Yeah, that’s amazing. You’re buying, like, very close to the cost of actual construction here.
Karam: Yeah.
Jason Hartman: How much?
Karam: $60.00 per square feet, only.
Jason Hartman: $60.00 per square foot. That is unbelievable. It’s like the downside risk is almost nothing. Go back and listen to our podcast on risk evaluation.
Karam: And again, return on investment is 41 percent.
Jason Hartman: So 41 percent projected return on investment, and these are some good properties. Give us a call or check out our website for more properties, and all the details are listed there, and we will look forward to talking to you on the next podcast. Thanks.
Hey, I just wanted to announce a couple of quick things for you. If you are able to come to one of our live events, we would love to see you and meet you in person. We’ve had people fly in from all over the U.S. for them. So hopefully, you can join us for some of those events. Also, remember, our rental coordinator is here to help with your rental properties. If you need assistance with your rentals, your property managers, your advertising, remember we’re here to help, and we stay with you through the life of the investment. So feel free to call our office any time, and ask for the rental coordinator for assistance on your rentals.
Also want to remind you, listen to our old podcasts. At least, go back to Podcast No. 13 forward and listen to all the podcasts after that. You’re welcome to listen to all of them. The ones before No. 13 are older, but they’re also good. But the newer ones are No. 13 and forward, which are really good ones to listen to. So please take advantage of that, and remember the overall market commentary right now, due to the mortgage meltdown, the sub-prime issues that are going on out there in the market, is that rents are going up all across the nation.
When people cannot qualify as easily to buy a property, they are forced to rent. So let that work in your favor by accumulating more rental property assets. And don’t be afraid to ask for more rent and raise your rents. That’s a good thing to do.
Also, if you are interested in career opportunities with us, our company is growing quickly, and we would love to talk with you about career opportunities. We’re in the process of getting approved for franchising. If you’re interested in the Platinum Properties Investor Network Franchise, be happy to talk with you about that and get you set up there, once we are finished with our approval process.
Be sure to see appropriate disclaimers and disclosures on our website at www.jasonhartman.com. Remember that we are not tax or legal advisors.
So give us a call on any of these issues. And remember, we are here to help, and we will look forward to talking to you on the next podcast.
This material is the copyrighted creative work of either Jason Hartman, the Hartman Media Company, Platinum Properties Investor Network Incorporated, or the J. Hartman Company. All rights reserved.
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Duration: 60 minutes
